<SEC-DOCUMENT>0001144204-17-059999.txt : 20171117
<SEC-HEADER>0001144204-17-059999.hdr.sgml : 20171117
<ACCEPTANCE-DATETIME>20171117173051
ACCESSION NUMBER:		0001144204-17-059999
CONFORMED SUBMISSION TYPE:	S-3/A
PUBLIC DOCUMENT COUNT:		6
FILED AS OF DATE:		20171117
DATE AS OF CHANGE:		20171117

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Clarus Corp
		CENTRAL INDEX KEY:			0000913277
		STANDARD INDUSTRIAL CLASSIFICATION:	 [3949]
		IRS NUMBER:				581972600
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		S-3/A
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-218751
		FILM NUMBER:		171212072

	BUSINESS ADDRESS:	
		STREET 1:		2084 EAST 3900 SOUTH
		CITY:			SALT LAKE CITY
		STATE:			UT
		ZIP:			84124
		BUSINESS PHONE:		801-278-5552

	MAIL ADDRESS:	
		STREET 1:		2084 EAST 3900 SOUTH
		CITY:			SALT LAKE CITY
		STATE:			UT
		ZIP:			84124

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Black Diamond, Inc.
		DATE OF NAME CHANGE:	20110121

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	CLARUS CORP
		DATE OF NAME CHANGE:	19980911

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	SQL FINANCIALS INTERNATIONAL INC /DE/
		DATE OF NAME CHANGE:	19980911

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			BLACK DIAMOND EQUIPMENT LTD
		CENTRAL INDEX KEY:			0000878608

	FILING VALUES:
		FORM TYPE:		S-3/A
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-218751-02
		FILM NUMBER:		171212078

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			BD European Holdings, LLC
		CENTRAL INDEX KEY:			0001709184
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		S-3/A
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-218751-05
		FILM NUMBER:		171212075

	BUSINESS ADDRESS:	
		STREET 1:		2084 EAST 3900 SOUTH
		CITY:			SALT LAKE CITY
		STATE:			UT
		ZIP:			84124
		BUSINESS PHONE:		8012785552

	MAIL ADDRESS:	
		STREET 1:		2084 EAST 3900 SOUTH
		CITY:			SALT LAKE CITY
		STATE:			UT
		ZIP:			84124

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PIEPS Service, LLC
		CENTRAL INDEX KEY:			0001709205
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		S-3/A
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-218751-08
		FILM NUMBER:		171212074

	BUSINESS ADDRESS:	
		STREET 1:		2084 EAST 3900 SOUTH
		CITY:			SALT LAKE CITY
		STATE:			UT
		ZIP:			84124
		BUSINESS PHONE:		8012785552

	MAIL ADDRESS:	
		STREET 1:		2084 EAST 3900 SOUTH
		CITY:			SALT LAKE CITY
		STATE:			UT
		ZIP:			84124

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Everest/Sapphire Acquisition, LLC
		CENTRAL INDEX KEY:			0001507089
		IRS NUMBER:				272458043
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		S-3/A
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-218751-03
		FILM NUMBER:		171212079

	BUSINESS ADDRESS:	
		STREET 1:		2084 EAST 3900 SOUTH
		CITY:			SALT LAKE CITY
		STATE:			UT
		ZIP:			84124
		BUSINESS PHONE:		801-278-5552

	MAIL ADDRESS:	
		STREET 1:		2084 EAST 3900 SOUTH
		CITY:			SALT LAKE CITY
		STATE:			UT
		ZIP:			84124

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			BD North American Holdings, LLC
		CENTRAL INDEX KEY:			0001709204
		IRS NUMBER:				272458224
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		S-3/A
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-218751-09
		FILM NUMBER:		171212077

	BUSINESS ADDRESS:	
		STREET 1:		2084 EAST 3900 SOUTH
		CITY:			SALT LAKE CITY
		STATE:			UT
		ZIP:			84124
		BUSINESS PHONE:		8012785552

	MAIL ADDRESS:	
		STREET 1:		2084 EAST 3900 SOUTH
		CITY:			SALT LAKE CITY
		STATE:			UT
		ZIP:			84124

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Black Diamond Retail, Inc.
		CENTRAL INDEX KEY:			0001507092
		IRS NUMBER:				841370708
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		S-3/A
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-218751-01
		FILM NUMBER:		171212076

	BUSINESS ADDRESS:	
		STREET 1:		2084 EAST 3900 SOUTH
		CITY:			SALT LAKE CITY
		STATE:			UT
		ZIP:			84124
		BUSINESS PHONE:		801-278-5552

	MAIL ADDRESS:	
		STREET 1:		2084 EAST 3900 SOUTH
		CITY:			SALT LAKE CITY
		STATE:			UT
		ZIP:			84124

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Sierra Bullets, L.L.C.
		CENTRAL INDEX KEY:			0001722831
		IRS NUMBER:				954170056
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		S-3/A
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-218751-12
		FILM NUMBER:		171212073

	BUSINESS ADDRESS:	
		STREET 1:		2084 EAST 3900 SOUTH
		CITY:			SALT LAKE CITY
		STATE:			UT
		ZIP:			84124
		BUSINESS PHONE:		8012785552

	MAIL ADDRESS:	
		STREET 1:		2084 EAST 3900 SOUTH
		CITY:			SALT LAKE CITY
		STATE:			UT
		ZIP:			84124
</SEC-HEADER>
<DOCUMENT>
<TYPE>S-3/A
<SEQUENCE>1
<FILENAME>tv479755_s3a.htm
<DESCRIPTION>S-3/A
<TEXT>
<HTML>
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</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0"></P>

<DIV STYLE="padding: 0in 0in 1pt; border-bottom: Black 1.5pt solid"><P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"> As filed with the Securities and
Exchange Commission on November 17, 2017 </P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; text-indent: 0.5in"> Registration
No. 333-218751 </P>

</DIV>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"> <FONT STYLE="font-weight: normal">&nbsp;</FONT> </P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">UNITED STATES SECURITIES AND EXCHANGE
COMMISSION</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Washington, D.C. 20549</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"> <B>Amendment No. 1</B> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FORM S-3</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>REGISTRATION STATEMENT UNDER THE SECURITIES
ACT OF 1933</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"> <B>CLARUS CORPORATION</B> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Exact name of registrant as specified in
charter)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Delaware</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(State or other jurisdiction</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">of incorporation or organization)</P></TD>
    <TD STYLE="width: 50%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>58-1972600</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(I.R.S. Employer</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Identification No.)</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>2084 East 3900 South</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Salt Lake City, UT 84124</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(801) 278-5552</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Address, including zip code and telephone
        number, including area code, of registrant&rsquo;s principal executive offices)</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Warren B. Kanders<BR>
        Executive Chairman of the Board of Directors</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"> <B>Clarus Corporation</B> </P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>2084 East 3900 South</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Salt Lake City, UT 84124</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(801) 278-5552</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Name, address, including zip code and telephone
        number, including area code, of agent for service of process)</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Copy to:<BR>
        <BR>
        Robert L. Lawrence, Esq.</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Kane Kessler, P.C.</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>666 Third Avenue</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>New York, NY 10017</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(212) 541-6222</B></P></TD></TR>
</TABLE>
<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 1pt; margin-bottom: 1pt"><DIV STYLE="font-size: 1pt; border-top: Black 1.5pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>Approximate Date of Commencement of Proposed
Sale to Public</B>: From time to time after the effective date of this Registration Statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">If the only securities being registered
on this Form are being offered pursuant to dividend or interest reinvestment plans, please check the following box. [ ]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">If any of the securities being registered
on this Form are to be offered on a delayed or continuous basis pursuant to Rule 415 under the Securities Act of 1933, other than
the securities offered only in connection with dividend or interest reinvestment plans, check the following box. [X]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>


<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0pt; text-align: left; margin-bottom: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">If this Form is filed to register additional
securities for an offering pursuant to Rule 462(b) under the Securities Act, please check the following box and list the Securities
Act registration statement number of the earlier effective registration statement for the same offering. [ ]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">If this Form is a post-effective amendment
filed pursuant to Rule 462(c) under the Securities Act, check the following box and list the Securities Act registration statement
number of the earlier effective registration statement for the same offering. [ ]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">If this Form is a registration statement
pursuant to General Instruction I.D. or a post effective amendment thereto that shall become effective upon filing with the Commission
pursuant to Rule 462(e) under the Securities Act, check the following. [ ]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">If this Form is a post-effective amendment
to a registration statement filed pursuant to General Instruction I.D. filed to register additional securities or additional classes
of securities pursuant to Rule 413(b) under the Securities Act, check the following. [__]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Indicate by check mark whether the registrant
is a large accelerated filer, an accelerated filer, a non-accelerated filer or a smaller reporting company. See the definitions
of &ldquo;large accelerated filer,&rdquo; &ldquo;accelerated filer&rdquo; and &ldquo;smaller reporting company&rdquo; in Rule 12b-2
of the Exchange Act:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Large accelerated filer&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings">&uml;</FONT>&nbsp;&nbsp;&nbsp;&nbsp;Accelerated
filer&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings">x</FONT>&nbsp;&nbsp;&nbsp;&nbsp;Non-accelerated filer&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings">&uml;</FONT>&nbsp;&nbsp;&nbsp;&nbsp;Small
reporting company&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings">&uml;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="color: #231F20">If an emerging
growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with
any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of the Securities Act .</FONT>
<FONT STYLE="font-family: Wingdings">&uml;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">___________________________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CALCULATION OF REGISTRATION FEE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 21%; border-top: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"> <B>Title of Each Class of Securities</B> </P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"> <B><U>to be Registered</U></B> </P></TD>
    <TD STYLE="width: 18%; border-top: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Amount
    to be <U>Registered</U><SUP>(1)</SUP></B></FONT> </TD>
    <TD STYLE="width: 18%; border-top: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Proposed
    Maximum Offering Price</B></FONT><BR>
    <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;<U>Per Share</U><SUP>(1)(2)</SUP></B></FONT> </TD>
    <TD STYLE="width: 30%; border-top: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"> <B>Proposed Maximum Aggregate</B> </P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"> <B><U>Offering Price</U><SUP>(1)(2)</SUP></B> </P></TD>
    <TD STYLE="width: 13%; border-top: black 1pt solid; padding-right: 8.35pt; padding-left: 5.4pt; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><U>Amount
    of Registration Fee</U><SUP>(3)</SUP></B></FONT> </TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"> &nbsp; </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"> &nbsp; </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"> &nbsp; </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"> &nbsp; </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"> &nbsp; </TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 0.25in"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Common
    Stock, par value $0.0001 per share (including Series A Junior Participating Preferred Stock Purchase Rights) (&ldquo;Common
    Stock&rdquo;) </FONT> </TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(4)(5)</FONT> </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"> &nbsp; </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"> &nbsp; </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"> &nbsp; </TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 0.25in"> &nbsp; </TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"> &nbsp; </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"> &nbsp; </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"> &nbsp; </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"> &nbsp; </TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 0.25in"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Preferred
    Stock, par value $0.0001 per share (&ldquo;Preferred Stock&rdquo;) </FONT> </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; vertical-align: bottom"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(4)</FONT> </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"> &nbsp; </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"> &nbsp; </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"> &nbsp; </TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 0.25in"> &nbsp; </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"> &nbsp; </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"> &nbsp; </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"> &nbsp; </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"> &nbsp; </TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 0.25in"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Debt
    securities</FONT> </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"> &nbsp; </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"> &nbsp; </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"> &nbsp; </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"> &nbsp; </TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 0.25in"> &nbsp; </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"> &nbsp; </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"> &nbsp; </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"> &nbsp; </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"> &nbsp; </TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 0.25in"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Guarantees
    of debt securities</FONT> </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; vertical-align: bottom"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(6)</FONT> </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"> &nbsp; </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"> &nbsp; </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"> &nbsp; </TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 0.25in"> &nbsp; </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"> &nbsp; </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"> &nbsp; </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"> &nbsp; </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"> &nbsp; </TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 0.25in"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Warrants</FONT> </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"> &nbsp; </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"> &nbsp; </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"> &nbsp; </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"> &nbsp; </TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 0.25in"> &nbsp; </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"> &nbsp; </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"> &nbsp; </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"> &nbsp; </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"> &nbsp; </TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 0.5in"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Total
    primary offering:</FONT> </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"> &nbsp; </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"> &nbsp; </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$200,000,000.00</FONT> </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$23,180
    (7)</FONT> </TD></TR>

<TR>
    <TD STYLE="vertical-align: top; width: 21%; border-top: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"> <FONT STYLE="font-size: 10pt">Secondary
    offering:</FONT> </TD>
    <TD STYLE="width: 18%; border-top: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"> &nbsp; </TD>
    <TD STYLE="width: 18%; border-top: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"> &nbsp; </TD>
    <TD STYLE="width: 30%; border-top: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"> &nbsp; </TD>
    <TD STYLE="width: 13%; border-top: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"> &nbsp; </TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 0.25in"> <FONT STYLE="font-size: 10pt">Common Stock
    (4)(5)</FONT> </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"> <FONT STYLE="font-size: 10pt">2,419,490</FONT> </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"> <FONT STYLE="font-size: 10pt">$7.23(8)</FONT> </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"> <FONT STYLE="font-size: 10pt">$17,492,912</FONT> </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"> <FONT STYLE="font-size: 10pt">$2,178</FONT> </TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"> <FONT STYLE="font-size: 10pt"><B>Total
    registration fee:</B></FONT> </TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"> <FONT STYLE="font-size: 10pt">$25,358
    (9)</FONT> </TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>


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    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0pt; text-align: left; margin-bottom: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">(1)</TD><TD>Pursuant to Rule 457(i) under the Securities Act of 1933 (the &ldquo;Securities Act&rdquo;) with respect to the primary offering,
the securities registered hereunder include such indeterminate number of shares of Common Stock, Preferred Stock, principal amount
of debt securities and warrants as may be issued upon conversion or exchange of any preferred stock or debt securities registered
hereunder that provide for conversion or exchange or pursuant to the anti-dilution provisions of any such securities.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">(2)</TD><TD>The proposed maximum per unit and aggregate offering prices per class of securities with respect to the primary offering will
be determined from time to time by the registrant in connection with the issuance by the registrant of the securities registered
under this registration statement and is not specified as to each class of security pursuant to General Instruction II.D of Form
S-3 under the Securities Act.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">(3)</TD><TD>Calculated pursuant to Rule 457(o) under the Securities Act with respect to the primary offering.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 0.25in; text-indent: -0.25in"><FONT STYLE="font-size: 10pt">(4)&nbsp;&nbsp;&nbsp;Pursuant to Rule 416 under the Securities Act, the shares of Common Stock and Preferred Stock being registered hereunder include such indeterminate number of shares as may be issuable with respect to the shares being registered hereunder as a result of stock splits, stock dividends or similar transactions.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0pt"></TD><TD STYLE="width: 18pt"> (5) </TD><TD> This Registration also relates to the rights to purchase shares
                                         of Series A Junior Participating Preferred Stock of the Registrant, which are attached
                                         to all shares of Common Stock pursuant to the terms of the Registrant&rsquo;s Rights
                                         Agreement dated February 12, 2008 described herein under the section &ldquo;Description
                                         of Common Stock &mdash; Preferred Share Purchase Rights.&rdquo; Until the occurrence
                                         of prescribed events, the preferred share purchase rights are not exercisable, are evidenced
                                         by the certificates for the Common Stock and will be transferred with and only with such
                                         Common Stock. The preferred share purchase rights are appurtenant to and trade with the
                                         Common Stock and no separate consideration will be received for the preferred share purchase
                                         rights. Therefore, the registration fee for the preferred shares purchase rights is included
                                         in the fee for the Common Stock. </TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"> (6) </TD><TD> We are also registering an indeterminate amount of guarantees
                                         by certain of our subsidiaries of debt securities. No additional consideration will be
                                         received for the subsidiary guarantees, if any, of the debt securities. Pursuant to Rule
                                         457(n) under the Securities Act, no additional filing fee is required in connection with
                                         such guarantees of the debt securities. </TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0pt"></TD><TD STYLE="width: 18pt; text-align: left"> (7) </TD><TD STYLE="text-align: justify"> Registration
                                         Fee previously paid. </TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0pt"></TD><TD STYLE="width: 18pt; text-align: left"> (8) </TD><TD STYLE="text-align: justify"> Estimated solely
                                         for the purpose of calculating the registration fee pursuant to Rule&nbsp;457(c) under
                                         the Securities Act, and based upon the average of the high and low reported sales prices
                                         of our common stock on the Nasdaq Global Select Market on November 15, 2017. </TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0pt"></TD><TD STYLE="width: 18pt; text-align: left"> (9) </TD><TD STYLE="text-align: justify"> $23,180 of the
                                         Registration Fee previously paid. </TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">___________________________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 16.9pt"><B>The Registrant
hereby amends this Registration Statement on such date or dates as may be necessary to delay its effective date until the Registrant
shall file a further amendment which specifically states that this Registration Statement shall thereafter become effective in
accordance with Section&nbsp;8(a) of the Securities Act or until this Registration Statement shall become effective on such date
as the Securities and Exchange Commission, acting pursuant to said Section&nbsp;8(a), may determine.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">___________________________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>TABLE OF ADDITIONAL REGISTRANTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 47%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"> <B>&nbsp;</B> </P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"> <B>Name of Additional Registrant</B> </P></TD>
    <TD STYLE="width: 28%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"> <FONT STYLE="font-size: 10pt"><B>Jurisdiction
    of Incorporation or Organization</B></FONT> </TD>
    <TD STYLE="width: 25%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"> <B>&nbsp;</B> </P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"> <B>IRS Employer ID Number</B> </P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"> <FONT STYLE="font-size: 10pt">Everest/Sapphire Acquisition, LLC <SUP>(1)</SUP></FONT> </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"> <FONT STYLE="font-size: 10pt">Delaware</FONT> </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"> <FONT STYLE="font-size: 10pt">27-2458043</FONT> </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"> <FONT STYLE="font-size: 10pt">Black Diamond Equipment, Ltd. <SUP>(1)</SUP></FONT> </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"> <FONT STYLE="font-size: 10pt">Delaware</FONT> </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"> <FONT STYLE="font-size: 10pt">87-0492334</FONT> </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"> <FONT STYLE="font-size: 10pt">BD North American Holdings, LLC <SUP>(1)</SUP></FONT> </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"> <FONT STYLE="font-size: 10pt">Delaware</FONT> </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"> <FONT STYLE="font-size: 10pt">27-2458224</FONT> </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"> <FONT STYLE="font-size: 10pt">Black Diamond Retail, Inc. <SUP>(1)</SUP></FONT> </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"> <FONT STYLE="font-size: 10pt">Delaware</FONT> </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"> <FONT STYLE="font-size: 10pt">84-1370708</FONT> </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"> <FONT STYLE="font-size: 10pt">BD European Holdings, LLC <SUP>(1)</SUP></FONT> </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"> <FONT STYLE="font-size: 10pt">Delaware</FONT> </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"> <FONT STYLE="font-size: 10pt">N/A</FONT> </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"> <FONT STYLE="font-size: 10pt">PIEPS Service, LLC <SUP>(1)</SUP></FONT> </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"> <FONT STYLE="font-size: 10pt">Delaware</FONT> </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"> <FONT STYLE="font-size: 10pt">46-1585650</FONT> </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"> <FONT STYLE="font-size: 10pt">Sierra Bullets, L.L.C. <SUP>(2)</SUP></FONT> </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"> <FONT STYLE="font-size: 10pt">Delaware</FONT> </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"> <FONT STYLE="font-size: 10pt">95-4170056</FONT> </TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0pt"></TD><TD STYLE="width: 16.9pt"> (1) </TD><TD> The address, including zip code, and telephone number, including
                                         area code, of this registrant&rsquo;s principal executive offices are the same as those
                                         of Clarus Corporation. </TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0pt"></TD><TD STYLE="width: 16.9pt"> (2) </TD><TD> The address, including zip code, of this registrant&rsquo;s
                                         principal executive offices is 1400 W Henry St, Sedalia, MO 65301 and the telephone number,
                                         including area code, of its principal executive offices is (660) 827-6300. </TD></TR></TABLE>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: #FF4040"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR>
    <TD STYLE="padding: 3.75pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #E8112D">The information in this preliminary prospectus is not complete and may be changed. We may not sell these securities until the registration statement filed with the Securities and Exchange Commission is effective. This preliminary prospectus is not an offer to sell these securities and it is not soliciting an offer to buy these securities in any state where the offer or sale is not permitted.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: #E8112D"> <B>PRELIMINARY PROSPECTUS
SUBJECT TO COMPLETION DATED NOVEMBER 17, 2017.</B> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: #FF4040"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><IMG SRC="image_001.jpg" ALT="clarus-logo-final-web" STYLE="height: 61px; width: 122px"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"> <B>CLARUS CORPORATION</B> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">$200,000,000</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Common Stock</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Preferred Stock</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Debt Securities</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Guarantees of Debt Securities</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 12pt"><B>Warrants</B></FONT><BR>
<FONT STYLE="font-size: 10pt">_______________</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We may offer, issue
and sell, from time to time, in one or more offerings and series, together or separately, shares of our common stock, shares of
our preferred stock, debt securities guarantees of debt securities or warrants up to an aggregate amount of $200,000,000.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> In addition, selling
stockholders may offer and resell from time to time up to 2,419,490 shares of our common stock that were previously issued in
a private transaction. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This prospectus provides
a general description of these securities that we may offer and the general manner in which we will offer them. Each time any of
our securities is offered using this prospectus, we and/or any of our selling stockholders, where applicable, will provide a prospectus
supplement and attach it to this prospectus. The applicable prospectus supplement will contain more specific information about
the offering. The applicable prospectus supplement may also add, update or change the information in this prospectus and will also
describe the specific manner in which we will offer the common stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>This prospectus
may not be used to offer or sell securities without a prospectus supplement which includes a description of the method and terms
of the offering. </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">You
should carefully read this prospectus and any accompanying prospectus supplement, together with the documents we incorporate by
reference, before you invest in our common stock. </FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We may offer and sell
these securities to or through one or more underwriters, dealers and agents or directly to purchasers, or through a combination
of these methods, on a continuous or delayed basis. The names of any underwriters, dealers or agents will be included in a prospectus
supplement. If any agents, dealers or underwriters are involved in the sale of any securities, the applicable prospectus supplement
will set forth any applicable commissions or discounts. The applicable prospectus supplement will provide the specific terms of
the plan of distribution.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> Our common stock
is listed on the Nasdaq Global Select Market under the symbol &ldquo;CLAR.&rdquo; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Investing in our
securities involves risks. Please refer to the &ldquo;Risk Factors&rdquo; section contained in any applicable prospectus supplement
and in the documents we incorporate by reference for a description of the risks you should consider when evaluating this investment.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>_______________</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>Neither the Securities
and Exchange Commission nor any state securities commission has approved or disapproved of these securities or determined if this
prospectus is truthful or complete. Any representation to the contrary is a criminal offense. </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>_______________</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>The date of this prospectus is</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>TABLE OF CONTENTS </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 9pt 0pt 0; text-align: right"><U>Page</U></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR>
    <TD STYLE="vertical-align: top; width: 95%; padding-right: 5.4pt; padding-left: 27pt; text-indent: -27pt"><A HREF="#st_toc-01"><FONT STYLE="font-size: 10pt">ABOUT THIS PROSPECTUS</FONT></A></TD>
    <TD STYLE="vertical-align: bottom; width: 5%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><A HREF="#st_toc-01"><FONT STYLE="font-size: 10pt">i</FONT></A></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 27pt; text-indent: -27pt"><A HREF="#st_toc-02"><FONT STYLE="font-size: 10pt">FORWARD-LOOKING STATEMENTS</FONT></A></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><A HREF="#st_toc-02"><FONT STYLE="font-size: 10pt">ii</FONT></A></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 27pt; text-indent: -27pt"><A HREF="#st_toc-03"><FONT STYLE="font-size: 10pt">THE COMPANY</FONT></A></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><A HREF="#st_toc-03"><FONT STYLE="font-size: 10pt">1</FONT></A></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 27pt; text-indent: -27pt"><A HREF="#st_toc-04"><FONT STYLE="font-size: 10pt">RISK FACTORS</FONT></A></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><A HREF="#st_toc-04"><FONT STYLE="font-size: 10pt">2</FONT></A></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: -9pt; padding-left: 27pt; text-indent: -27pt"><A HREF="#st_toc-05"><FONT STYLE="font-size: 10pt">USE OF PROCEEDS</FONT></A></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><A HREF="#st_toc-05"><FONT STYLE="font-size: 10pt">2</FONT></A></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: -9pt; padding-left: 27pt; text-indent: -27pt"><A HREF="#st_toc-06"><FONT STYLE="font-size: 10pt">RATIO OF EARNINGS TO FIXED CHARGES</FONT></A></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><A HREF="#st_toc-06"><FONT STYLE="font-size: 10pt">2</FONT></A></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 27pt; text-align: justify; text-indent: -27pt"><A HREF="#st_toc-07"><FONT STYLE="font-size: 10pt">DESCRIPTION OF COMMON STOCK</FONT></A></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><A HREF="#st_toc-07"><FONT STYLE="font-size: 10pt">3</FONT></A></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 27pt; text-align: justify; text-indent: -27pt"><A HREF="#st_toc-08"><FONT STYLE="font-size: 10pt">DESCRIPTION OF PREFERRED STOCK</FONT></A></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><A HREF="#st_toc-08"><FONT STYLE="font-size: 10pt">6</FONT></A></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 27pt; text-align: justify; text-indent: -27pt"><A HREF="#st_toc-09"><FONT STYLE="font-size: 10pt">DESCRIPTION OF DEBT SECURITIES</FONT></A></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><A HREF="#st_toc-09"><FONT STYLE="font-size: 10pt">6</FONT></A></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 27pt; text-align: justify; text-indent: -27pt"><A HREF="#st_toc-10"><FONT STYLE="font-size: 10pt">DESCRIPTION OF GUARANTEES OF THE DEBT SECURITIES</FONT></A></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><A HREF="#st_toc-10"><FONT STYLE="font-size: 10pt">7</FONT></A></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: -4.5pt; padding-left: 27pt; text-indent: -27pt"><A HREF="#st_toc-11"><FONT STYLE="font-size: 10pt">DESCRIPTION OF WARRANTS</FONT></A></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><A HREF="#st_toc-11"><FONT STYLE="font-size: 10pt">7</FONT></A></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: -4.5pt; padding-left: 27pt; text-indent: -27pt"><A HREF="#st_toc-12"><FONT STYLE="font-size: 10pt">ANTI-TAKEOVER EFFECTS OF CERTAIN PROVISIONS OF DELAWARE LAW AND OUR &nbsp;&nbsp;CERTIFICATE &nbsp;&nbsp;OF INCORPORATION AND BYLAWS</FONT></A></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><A HREF="#st_toc-12"><FONT STYLE="font-size: 10pt">7</FONT></A></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: -4.5pt; padding-left: 27pt; text-indent: -27pt"><A HREF="#st_toc-13"><FONT STYLE="font-size: 10pt">SELLING STOCKHOLDERS</FONT></A></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><A HREF="#st_toc-13"><FONT STYLE="font-size: 10pt">8</FONT></A></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: -4.5pt; padding-left: 27pt; text-indent: -27pt"><A HREF="#st_toc-14"><FONT STYLE="font-size: 10pt">PLAN OF DISTRIBUTION</FONT></A></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><A HREF="#st_toc-14"><FONT STYLE="font-size: 10pt">8</FONT></A></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: -4.5pt; padding-left: 27pt; text-align: justify; text-indent: -27pt"><A HREF="#st_toc-15"><FONT STYLE="font-size: 10pt">WHERE YOU CAN FIND MORE INFORMATION</FONT></A></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><A HREF="#st_toc-15"><FONT STYLE="font-size: 10pt">10</FONT></A></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: -4.5pt; padding-left: 27pt; text-align: justify; text-indent: -27pt"><A HREF="#st_toc-16"><FONT STYLE="font-size: 10pt">INCORPORATION OF CERTAIN DOCUMENTS BY REFERENCE</FONT></A></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><A HREF="#st_toc-16"><FONT STYLE="font-size: 10pt">11</FONT></A></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: -4.5pt; padding-left: 27pt; text-align: justify; text-indent: -27pt"><A HREF="#st_toc-17"><FONT STYLE="font-size: 10pt">EXPERTS</FONT></A></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><A HREF="#st_toc-17"><FONT STYLE="font-size: 10pt">11</FONT></A></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: -4.5pt; padding-left: 27pt; text-indent: -27pt"><A HREF="#st_toc-18"><FONT STYLE="font-size: 10pt">LEGAL MATTERS</FONT></A></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><A HREF="#st_toc-18"><FONT STYLE="font-size: 10pt">11</FONT></A></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><A NAME="st_toc-01"></A><B>ABOUT THIS PROSPECTUS </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> This prospectus is part of a &ldquo;shelf&rdquo;
registration statement on Form S-3 that we filed with the Securities and Exchange Commission, or the Commission, under the Securities
Act of 1933, as amended, or the Securities Act, using a &ldquo;shelf&rdquo; registration process. Under this shelf registration
process, we may, from time to time, offer and/or sell, in one or more offerings and series, together or separately, shares of
our common stock, preferred stock, debt securities, guarantees of debt securities or warrants up to an aggregate amount of $200,000,000.
In addition, under this shelf process, the selling stockholders named in this prospectus or a prospectus supplement may sell from
time to time up to 2,419,490 shares of our common stock. This prospectus only provides you with a general description of the securities
that we may offer. Each time we offer and sell our securities, we will provide a prospectus supplement and attach it to this prospectus.
The prospectus supplement will contain more specific information about the terms of the securities and the offering. The prospectus
supplement may also add, update or change information contained in this prospectus. Any statement that we make in this prospectus
will be modified or superseded by any inconsistent statement made by us in a prospectus supplement. Before purchasing any of our
securities, you should read both this prospectus and any accompanying prospectus supplement together with the additional information
described under the headings &ldquo;Where You Can Find More Information&rdquo; and &ldquo;Incorporation of Certain Documents by
Reference.&rdquo; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">You should rely only
on the information contained in this prospectus or any prospectus supplement and those documents incorporated by reference in this
prospectus or any prospectus supplement. We have not authorized anyone to provide you with information different from that contained
in this prospectus or any prospectus supplement. If anyone provides you with different or additional information you should not
rely on it. This prospectus may only be used where it is legal to sell these securities. This prospectus is not an offer to sell,
or a solicitation of an offer to buy, in any state where the offer or sale is prohibited. The information in this prospectus, any
prospectus supplement or any document incorporated herein or therein by reference is accurate as of the date contained on the cover
of such documents. Neither the delivery of this prospectus or any prospectus supplement, nor any sale made under this prospectus
or any prospectus supplement will, under any circumstances, imply that the information in this prospectus or any prospectus supplement
is correct as of any date after the date of this prospectus or any such prospectus supplement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> References in this
prospectus to the &ldquo;Company,&rdquo; &ldquo;Clarus ,&rdquo; &ldquo;we,&rdquo; &ldquo;our,&rdquo; and &ldquo;us,&rdquo; refer
to Clarus Corporation. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><A NAME="st_toc-02"></A><B>FORWARD-LOOKING STATEMENTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Certain statements
included in this prospectus, any accompanying prospectus supplement and the documents incorporated by reference herein and therein
are &ldquo;forward-looking statements&rdquo; within the meaning of the federal securities laws. Forward-looking statements are
made based on our expectations and beliefs concerning future events impacting the Company and therefore involve a number of risks
and uncertainties. We caution that forward-looking statements are not guarantees and that actual results could differ materially
from those expressed or implied in the forward-looking statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> Potential risks
and uncertainties that could cause the actual results of operations or financial condition of the Company to differ materially
from those expressed or implied by forward-looking statements in this prospectus, any accompanying prospectus supplement and the
documents incorporated herein and therein include, but are not limited to, the overall level of consumer spending on our products;
general economic conditions and other factors affecting consumer confidence; disruption and volatility in the global capital and
credit markets; the financial strength of the Company&rsquo;s customers; the Company&rsquo;s ability to implement its growth strategy,
including its ability to organically grow each of its historical product lines; the ability of the Company to identify potential
acquisition or investment opportunities as part of its redeployment and diversification strategy; the Company&rsquo;s ability
to successfully redeploy its capital into diversifying assets or that any such redeployment will result in the Company&rsquo;s
future profitability; the Company&rsquo;s ability to successfully integrate Sierra Bullets L.L.C.; the Company&rsquo;s exposure
to product liability or product warranty claims and other loss contingencies; stability of the Company&rsquo;s manufacturing facilities
and foreign suppliers; the Company&rsquo;s ability to protect trademarks, patents and other intellectual property rights; fluctuations
in the price, availability and quality of raw materials and contracted products as well as foreign currency fluctuations; our
ability to utilize our net operating loss carryforwards; and legal, regulatory, political and economic risks in international
markets. More information on potential factors that could affect the Company&rsquo;s financial results is included from time to
time in the Company&rsquo;s public reports filed with the Securities and Exchange Commission, including the Company&rsquo;s Annual
Report on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. All forward-looking statements included in
this prospectus are based upon information available to the Company as of the date of this prospectus, and speak only as the date
hereof. We assume no obligation to update any forward-looking statements to reflect events or circumstances after the date of
this prospectus. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">You should also read
carefully the factors described or referred to in the &ldquo;Risk Factors&rdquo; section of this prospectus, any accompanying prospectus
supplement and the documents incorporated by reference herein and therein, to better understand the risks and uncertainties inherent
in our business and underlying any forward-looking statements. Any forward-looking statements that we make in this prospectus,
any accompanying prospectus supplement and the documents incorporated by reference herein as well as other written or oral statements
by us or our authorized officers on our behalf, speak only as of the date of such statement, and we undertake no obligation to
update such statements. Comparisons of results for current and any prior periods are not intended to express any future trends
or indications of future performance, unless expressed as such, and should only be viewed as historical data.</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0"><B><A NAME="st_toc-03"></A>THE COMPANY</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> Clarus is a holding
company which seeks opportunities to acquire and grow businesses that can generate attractive shareholder returns. Presently,
through its Outdoor Group, Clarus&rsquo; primary business is as a leading developer, manufacturer and distributor of outdoor equipment
and lifestyle products focused on the climb, ski, mountain, and technical categories. The Company&rsquo;s products are principally
sold under the Black Diamond&reg;, Sierra&reg; and PIEPS&reg; brand names through specialty and online retailers, distributors
and original equipment manufacturers throughout the U.S. and internationally. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> Through our Black
Diamond&reg; and PIEPS&reg; brands, we offer a broad range of products including: high performance apparel (such as jackets, shells,
pants and bibs); rock-climbing equipment (such as carabiners, protection devices, harnesses, belay devices, helmets, and ice-climbing
gear); technical backpacks and high-end day packs; tents; trekking poles; headlamps and lanterns; and gloves and mittens. We also
offer advanced skis, ski poles, ski skins, and snow safety products, including avalanche airbag systems, avalanche transceivers,
shovels, and probes. Sierra manufactures a wide range of high performance bullets for both rifles and pistols. Sierra bullets
are used for precision target shooting, hunting and military and law enforcement purposes. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> Clarus Corporation,
incorporated in Delaware in 1991, acquired Black Diamond Equipment and Gregory Mountain Products, Inc. in May 2010 and changed
its name to Black Diamond, Inc., in January 2011. In July 2012, we acquired POC Sweden AB and its subsidiaries (collectively,
&ldquo;POC&rdquo;) and in October 2012, we acquired PIEPS Holding GmbH and its subsidiaries (collectively, &ldquo;PIEPS&rdquo;). </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> On July 23, 2014,
the Company completed the sale of certain assets to Samsonite LLC comprising Gregory Mountain Products&rsquo; business. On March
16, 2015, the Company announced that it was exploring a full range of strategic alternatives, including a sale of the entire Company
and the potential sales of the Company&rsquo;s Black Diamond Equipment (including PIEPS) and POC brands in two separate transactions. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> On October 7, 2015,
the Company sold its equity interests in POC, resulting in the conclusion of the Company&rsquo;s review of strategic alternatives.
On November 9, 2015, the Company announced that it was seeking to redeploy its significant cash balances to invest in high quality,
durable, cash flow-producing assets in order to diversify our business and potentially monetize our substantial net operating
losses as part of our asset redeployment and diversification strategy. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> On August 14, 2017,
the Company changed its name from Black Diamond, Inc. to Clarus Corporation and its stock ticker symbol from &ldquo;BDE&rdquo;
to &ldquo;CLAR&rdquo; on the NASDAQ stock exchange. On August 21, 2017, the Company acquired Sierra Bullets, L.L.C. (&ldquo;Sierra&rdquo;),
a manufacturer of a wide range of bullets for both rifles and pistols. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> Clarus, as a holding
company, is seeking opportunities to acquire and grow businesses that can generate attractive shareholder returns. The Company
has substantial net operating tax loss carryforwards which it is seeking to redeploy to maximize shareholder value in a diverse
array of businesses. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">____________________________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 31.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 31.5pt">We are incorporated in Delaware, the address
of our executive corporate headquarters is located at 2084 East 3900 South, Salt Lake City, Utah 84124, and our telephone number
is (801) 278-5552.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><A NAME="st_toc-04"></A>RISK FACTORS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">Investing in our securities
involves risk. Please carefully consider the risk factors described in our periodic and current reports filed with the Commission,
which are incorporated by reference in this prospectus, as well as any risks that may be set forth in the prospectus supplement
relating to a specific security. Before making an investment decision, you should carefully consider these risks as well as other
information we include or incorporate by reference in this prospectus or include in any applicable prospectus supplement. These
risks could materially affect our business, results of operations or financial condition and cause the value of our securities
to decline. You could lose all or part of your investment. Additional risks and uncertainties not presently known to us or that
we deem currently immaterial may also impair our business operations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><A NAME="st_toc-05"></A>USE OF PROCEEDS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The use of proceeds
from the sale of our securities will be specified in the applicable prospectus supplement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Unless stated otherwise
in an accompanying prospectus supplement, we will use the net proceeds from the sale of securities described in this prospectus
for general corporate purposes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">When a particular series
of securities is offered, the accompanying prospectus supplement will set forth our intended use for the net proceeds received
from the sale of those securities. Pending application for specific purposes, the net proceeds may be invested in marketable securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> We will not receive
any proceeds from any sales of common stock by selling stockholders. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><A NAME="st_toc-06"></A>RATIO OF EARNINGS TO FIXED CHARGES </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The following tables
set forth the ratio of earnings to fixed charges for the Company for the periods indicated.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><U>The Company</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 5pt; padding-bottom: 5pt; text-align: center"> <FONT STYLE="font-size: 10pt"><B>&nbsp;</B></FONT> </TD>
    <TD STYLE="border-bottom: black 1.5pt double; padding-top: 5pt; padding-bottom: 5pt; text-align: center"> <FONT STYLE="font-size: 10pt"><B>Nine
    Months Ended September 30, 2017</B></FONT> </TD>
    <TD COLSPAN="5" STYLE="padding-top: 5pt; padding-bottom: 5pt; text-align: center"> <FONT STYLE="font-size: 10pt"><B>Year
    Ended December 31,</B></FONT> </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 37%"> &nbsp; </TD>
    <TD STYLE="width: 21%; border-bottom: black 1.5pt double"> &nbsp; </TD>
    <TD STYLE="width: 9%; border-bottom: black 1.5pt double; padding-top: 5pt; padding-bottom: 5pt; text-align: center; vertical-align: middle"> <FONT STYLE="font-size: 10pt"><B>2016</B></FONT> </TD>
    <TD STYLE="width: 7%; border-bottom: black 1.5pt double; padding-top: 5pt; padding-bottom: 5pt; text-align: center; vertical-align: middle"> <FONT STYLE="font-size: 10pt"><B>2015</B></FONT> </TD>
    <TD STYLE="width: 8%; border-bottom: black 1.5pt double; padding-top: 5pt; padding-bottom: 5pt; text-align: center; vertical-align: middle"> <FONT STYLE="font-size: 10pt"><B>2014</B></FONT> </TD>
    <TD STYLE="width: 8%; border-bottom: black 1.5pt double; padding-top: 5pt; padding-bottom: 5pt; text-align: center; vertical-align: middle"> <FONT STYLE="font-size: 10pt"><B>2013</B></FONT> </TD>
    <TD STYLE="width: 10%; border-bottom: black 1.5pt double; padding-top: 5pt; padding-bottom: 5pt; text-align: center; vertical-align: middle"> <FONT STYLE="font-size: 10pt"><B>2012</B></FONT> </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 5pt; padding-bottom: 5pt"> <FONT STYLE="font-size: 10pt">Ratio or Earnings to Fixed Charges</FONT> </TD>
    <TD STYLE="padding-top: 5pt; padding-bottom: 5pt; text-align: center; vertical-align: middle"> <FONT STYLE="font-size: 10pt">(4.9)</FONT> </TD>
    <TD STYLE="padding-top: 5pt; padding-bottom: 5pt; text-align: center; vertical-align: middle"> <FONT STYLE="font-size: 10pt">(1.9)</FONT> </TD>
    <TD STYLE="padding-top: 5pt; padding-bottom: 5pt; text-align: center; vertical-align: middle"> <FONT STYLE="font-size: 10pt">(13.4)</FONT> </TD>
    <TD STYLE="padding-top: 5pt; padding-bottom: 5pt; text-align: center; vertical-align: middle"> <FONT STYLE="font-size: 10pt">(4.1)</FONT> </TD>
    <TD STYLE="padding-top: 5pt; padding-bottom: 5pt; text-align: center; vertical-align: middle"> <FONT STYLE="font-size: 10pt">(5.5)</FONT> </TD>
    <TD STYLE="padding-top: 5pt; padding-bottom: 5pt; text-align: center; vertical-align: middle"> <FONT STYLE="font-size: 10pt">0.0</FONT> </TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The ratio of earnings
to fixed charges equals earnings before fixed charges divided by fixed charges. For purposes of calculating this ratio, earnings
before fixed charges consist of earnings from continuing operations before income taxes, extraordinary items and cumulative effects
of changes in accounting principles, plus fixed charges. Fixed charges consist of interest expense (including amortization of debt
expense and discount or premium relating to any indebtedness), preferred stock dividend requirements of consolidated subsidiaries,
capitalized interest and that portion of rental expense representative of the interest factor.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">During the periods
described in the foregoing tables, the Company has not had any shares of preferred stock outstanding, and consequently, the ratios
of earnings to preferred stock dividends were identical to the ratios of earnings to fixed charges during such periods.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><A NAME="st_toc-07"></A><B>DESCRIPTION OF COMMON STOCK</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The following description
of our common stock does not purport to be complete and is subject in all respects to applicable Delaware law and qualified by
reference to the provisions of our Amended and Restated Certificate of Incorporation, as amended (the &ldquo;Certificate of Incorporation&rdquo;),
Amended and Restated Bylaws, as amended (the &ldquo;Bylaws&rdquo;), and Rights Agreement. Copies of our Certificate of Incorporation,
Bylaws, and Rights Agreement are incorporated by reference and will be sent to stockholders upon request. See &ldquo;Where Can
You Find More Information.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>Authorized Common Stock</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> We have authorized
100,000,000 shares of our common stock, par value $0.0001 per share. As of November 1, 2017 there were 30,041,265 shares of our
common stock outstanding. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>Voting Rights, Dividend Rights, Liquidation
Rights and Other Rights</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Holders of common stock
are entitled to one vote for each share held on all matters submitted to a vote of stockholders and do not have cumulative voting
rights. Accordingly, as the Company has not implemented a staggered board of directors or granted stockholders cumulative voting
rights, holders of a majority of the shares of common stock that are entitled to vote in any election of directors will have the
ability to elect all of the directors standing for election. Holders of common stock are entitled to receive ratably such dividends,
if any, as may be declared by the board of directors of the Company (the &ldquo;Board&rdquo;) out of funds legally available therefor,
subject to any preferential dividend rights of outstanding preferred stock of the Company. Upon the liquidation, dissolution or
winding up of the Company, the holders of common stock are entitled to receive ratably the net assets of the Company available
after the payment of all debts and other liabilities and subject to the prior rights of any outstanding preferred stock of the
Company. Holders of common stock have no preemptive, subscription, redemption or conversion rights. The rights, preferences and
privileges of holders of common stock are subject to, and may be adversely affected by, the rights of the holders of shares of
any series of preferred stock which the Company may designate and issue in the future.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>Acquisition Restrictions</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> To help ensure
the preservation of its net operating loss carryforwards (&ldquo;NOLs&rdquo;), the Company&rsquo;s Certificate of Incorporation
generally restricts any person from attempting to purchase or acquire (any such purchase or acquisition being an &ldquo;Acquisition&rdquo;),
any direct or indirect interest in Clarus&rsquo; capital stock (or options, warrants or other rights to acquire Clarus&rsquo;
capital stock, or securities convertible or exchangeable into Clarus&rsquo; capital stock), if such Acquisition would affect the
percentage of Clarus&rsquo; capital stock owned by a 5% stockholder (the &ldquo;Acquisition Restrictions&rdquo; and any person
attempting such an Acquisition, being referred to as a &ldquo;Restricted Holder&rdquo;). For purposes of determining the existence
and identity of, and the amount of capital stock owned by, any 5% stockholder or Restricted Holders, Clarus is entitled to rely
conclusively on (a) the existence and absence of filings of Schedules 13D and 13G (or any similar schedules) as of any date and
(b) its actual knowledge of the ownership of its capital stock. The Company&rsquo;s Certificate of Incorporation further provides
that a Restricted Holder will be required, prior to the date of any proposed Acquisition, to request in writing (a &ldquo;Request&rdquo;)
that the Board review the proposed Acquisition and authorize or not authorize such proposed Acquisition. If a Restricted Holder
seeks to effect an Acquisition, then at the next regularly scheduled meeting of the Board (which are generally held once during
each calendar quarter) following the tenth business day after receipt by the Secretary of the Company of a Request, the Board
will be required to determine whether to authorize the proposed Acquisition described in the Request. Any determination made by
the Board as whether to authorize a proposed Acquisition will be made in the sole discretion and judgment of the Board. The Board
shall promptly inform a Restricted Holder making the Request of such determination. Additionally, any Restricted Holder who makes
such a Request shall reimburse Clarus, on demand, for all reasonable costs and expenses incurred by Clarus with respect to any
proposed Acquisition, which may be material in relation to the Acquisition and will include the fees and expenses of any attorneys,
accountants or other advisors retained by Clarus in connection with such determination. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> The Company&rsquo;s
Certificate of Incorporation provides that any person who knowingly violates the Acquisition Restrictions or any persons in the
same control group with such person shall be jointly and severally liable to Clarus for, and shall indemnify and hold Clarus harmless
against, any and all damages suffered as a result of such violation, including but not limited to damages resulting from a reduction
in or elimination of the ability of Clarus to use its NOLs. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">All certificates representing
newly issued shares of the Company&rsquo;s capital stock or shares voted in favor of the Acquisition Restrictions and subsequently
submitted for transfer, must bear the following legend:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 1in; text-align: justify">&ldquo;The Amended and Restated Certificate
of Incorporation, as amended (the &ldquo;Certificate of Incorporation&rdquo;) of the Corporation contains restrictions prohibiting
the purchase or acquisition (collectively, the &ldquo;Acquisition&rdquo;) of any capital stock without the authorization of the
Board of Directors of the Corporation (the &ldquo;Board of Directors&rdquo;), if such Acquisition affects the percentage of capital
stock that is treated as owned by a five percent shareholder (within the meaning of Section 382 of the Internal Revenue Code of
1986, as amended (the &ldquo;Code&rdquo;), and the Treasury Regulations promulgated thereunder), and such Acquisition would, in
the sole discretion and judgment of the Board of Directors, jeopardize the Corporation&rsquo;s preservation of its U.S. federal
income tax attributes pursuant to Section 382 of the Code and is not otherwise in the best interests of the Corporation and its
stockholders. The Corporation will furnish without charge to the holder of record of this certificate a copy of the Certificate
of Incorporation, containing the above-referenced restrictions on acquisitions of stock, upon written request to the Corporation
at its principal place of business.&rdquo;</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Board has the discretion
to approve an Acquisition of stock that would otherwise violate the Acquisition Restrictions in circumstances where it determines
that such Acquisition is in the best interests of the Company and its stockholders. In determining whether or not to permit an
Acquisition which may result in violation of the Acquisition Restrictions, the Board may consider factors it deems relevant including
the likelihood that the Acquisition would result in an ownership change to occur that would limit the Company&rsquo;s use of its
NOLs. In addition, the Board is authorized to eliminate the Acquisition Restrictions, modify the applicable allowable percentage
ownership interest or modify any of the terms and conditions of the Acquisition Restrictions provided that the Board concludes
in writing that such change is reasonably necessary or advisable to preserve the Company&rsquo;s NOLs or that the continuation
of the affected terms and conditions of the Acquisition Restrictions is no longer reasonably necessary for such purpose.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Acquisition Restrictions
may have anti-takeover effects because they will restrict the ability of a person or entity or group thereof from accumulating
an aggregate of 5% or more of the Company&rsquo;s capital stock and the ability of persons, entities or groups now owning 5% or
more of the Company&rsquo;s capital stock from acquiring additional stock. Although the Acquisition Restrictions are designed as
a protective measure to preserve and protect the Company&rsquo;s NOLs, the Acquisition Restrictions may have the effect of impeding
or discouraging a merger, tender offer or proxy contest, even if such a transaction may be favorable to the interests of some or
all of the Company&rsquo;s stockholders. This might prevent stockholders from realizing an opportunity to sell all or a portion
of their shares of common stock at higher than market prices. In addition, the Acquisition Restrictions may delay the assumption
of control by a holder of a large block of capital stock and the removal of incumbent directors and management, even if such removal
may be beneficial to some or all of the Company&rsquo;s stockholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The foregoing description
of the Acquisition Restrictions does not purport to be complete and is qualified in its entirety by reference to the Company&rsquo;s
Certificate of Incorporation, which is incorporated herein by reference.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>Preferred Share Purchase Rights</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> On February 12,
2008, Clarus entered into a Rights Agreement (the &ldquo;Rights Agreement&rdquo;) with American Stock Transfer &amp; Trust Company
that provides for the terms of a rights plan including a dividend distribution of one preferred share purchase right (a &ldquo;Right&rdquo;)
for each outstanding share of common stock. The dividend is payable to Clarus&rsquo; stockholders of record as of the close of
business on February 12, 2008 (the &ldquo;Record Date&rdquo;). </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Board adopted the
Rights Agreement to protect the Company&rsquo;s ability to carry forward its NOLs, which the Company believes are a substantial
asset. The Rights Agreement is designed to assist in limiting the number of 5% or more owners and thus reduce the risk of a possible
&ldquo;change of ownership&rdquo; under Section 382 of the Internal Revenue Code of 1986, as amended (the &ldquo;Code&rdquo;).
Any such &ldquo;change of ownership&rdquo; under these rules would limit or eliminate the ability of the Company to use its existing
NOLs for federal income tax purposes. However, there is no guarantee that the objective of preserving the value of the NOLs will
be achieved. There is a possibility that certain stock transactions may be completed by stockholders or prospective stockholders
that could trigger a &ldquo;change of ownership,&rdquo; and there are other limitations on the use of NOLs set forth in the Code.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> The Rights Agreement
imposes a significant penalty upon any person or group that acquires 4.9% or more (but less than 50%) of Clarus&rsquo; then-outstanding
common stock without the prior approval of the Board. Stockholders who own 4.9% or more of Clarus&rsquo; then-outstanding common
stock as of the close of business on the Record Date, will not trigger the Rights Agreement so long as they do not increase their
ownership of common stock. Moreover, the Board may exempt any person or group that owns 4.9% or more. A person or group that acquires
a percentage of common stock in excess of the applicable threshold but less than 50% of Clarus&rsquo; then-outstanding common
stock is called an &ldquo;Acquiring Person.&rdquo; Any Rights held by an Acquiring Person are void and may not be exercised. </P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> The Board authorized
the issuance of one Right per each share of common stock outstanding on the Record Date. If the Rights become exercisable, each
Right would allow its holder to purchase from Clarus one one-hundredth of a share of Clarus&rsquo; Series A Junior Participating
Preferred Stock, par value $0.0001 (the &ldquo;Series A Preferred Stock&rdquo;), for a purchase price of $12.00. Each fractional
share of Series A Preferred Stock would give the stockholder approximately the same dividend, voting and liquidation rights as
one share of common stock. Prior to exercise, however, a Right will not give its holder any dividend, voting or liquidation rights. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> The Rights will
not be exercisable until 10 days after a public announcement by Clarus that a person or group has become an Acquiring Person.
Until the date that the Rights become exercisable (the &ldquo;Distribution Date&rdquo;), Clarus&rsquo; common stock certificates
will evidence the Rights and will contain a notation to that effect. Any transfer of shares of common stock prior to the Distribution
Date will constitute a transfer of the associated Rights. After the Distribution Date, the Rights will be separated from the common
stock and be evidenced by a rights certificate, which Clarus will mail to all holders of the rights that are not void. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> If a person or
group becomes an Acquiring Person after the Distribution Date or already is an Acquiring Person and acquires more shares after
the Distribution Date, all holders of Rights, except the Acquiring Person, may exercise their rights to purchase shares of Clarus&rsquo;
common stock with a market value of two times the purchase price (or other securities or assets as determined by the Board) upon
payment of the purchase price (a &ldquo;Flip-In Event&rdquo;). After the Distribution Date, if a Flip-In Event has already occurred
and Clarus is acquired in a merger or similar transaction, all holders of the Rights except the Acquiring Person may exercise
their Rights upon payment of the purchase price to purchase shares of the acquiring corporation with a market value of two times
the purchase price of the Rights (a &ldquo;Flip-Over Event&rdquo;). Rights may be exercised to purchase shares of Clarus&rsquo;
Series A Preferred Stock only after the occurrence of the Distribution Date and prior to the occurrence of a Flip-In Event as
described above. A Distribution Date resulting from any occurrence described above would necessarily follow the occurrence of
a Flip-In Event, in which case the Rights could be exercised to purchase shares of common stock or other securities as described
above. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> The Rights will
expire at such time the Board determines that the NOLs are fully utilized or no longer available under Section 382 of the Code
or the Rights are earlier redeemed or exchanged by the Company as described below. The Board may redeem all (but not less than
all) of the Rights for a redemption price of $0.0001 per Right at any time prior to the later of the Distribution Date and the
date of the first public announcement or disclosure by Clarus that a person or group has become an Acquiring Person. Once the
Rights are redeemed, the right to exercise the Rights will terminate, and the only right of the holders of the Rights will be
to receive the redemption price. The redemption price will be adjusted if Clarus declares a stock split or issues a stock dividend
on its common stock. After the later of the Distribution Date and the date of the first public announcement by Clarus that a person
or group has become an Acquiring Person, but before an Acquiring Person owns 50% or more of Clarus&rsquo; outstanding common stock,
the Board may exchange each Right (other than the Rights that have become void) for one share of common stock or an equivalent
security. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Board may adjust
the purchase price of the Series A Preferred Stock, the number of shares of the Series A Preferred Stock issuable and the number
of outstanding Rights to prevent dilution that may occur as a result of certain events, including a stock dividend, a stock split
or a reclassification of the Series A Preferred Stock or common stock. No adjustments to the purchase price of less than 1% will
be made.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Before the time the
Rights cease to be redeemable, the Board may amend or supplement the Rights Agreement without the consent of the holders of the
Rights, except that no amendment may decrease the redemption price below $0.0001 per right. At any time thereafter, the Board may
amend or supplement the Rights Agreement only to cure an ambiguity, to alter time period provisions, to correct inconsistent provisions
or to make any additional changes to the Rights Agreement, but only to the extent that those changes do not impair or adversely
affect any Rights holder and do not result in the Rights becoming redeemable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The foregoing description
of the Rights does not purport to be complete and is qualified in its entirety by reference to the Rights Agreement, which is incorporated
herein by reference.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><A NAME="st_toc-08"></A>DESCRIPTION OF PREFERRED STOCK</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The following is a
description of certain general terms and provisions of our preferred stock. The particular terms of any series of preferred stock
offered by us will be described in a prospectus supplement relating to such offering. The following description of our preferred
stock does not purport to be complete and is subject in all respects to applicable Delaware law and qualified by reference to the
provisions of our Certificate of Incorporation, Bylaws and the certificate of designation relating to each series of our preferred
stock, which will be filed with the Securities and Exchange Commission at or prior to the time of issuance of such series of preferred
stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our Certificate of
Incorporation authorizes our Board to issue, without further stockholder approval, up to 5,000,000 shares of preferred stock in
one or more series, having a par value of $0.0001 per share, 1,000,000 of which have been designated as Series A Junior Participating
Preferred Stock, par value $0.0001. See &ldquo;Description of Common Stock &ndash; Preferred Share Purchase Rights.&rdquo; As of
the date of this prospectus, no shares of our preferred stock were outstanding.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our Board is authorized
to fix the designation and relative rights for each series of preferred stock, and the applicable prospectus supplement will set
forth with respect to such series, the following information:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">any dividend rights;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">any stated redemption and liquidation values or preference per share;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">any sinking fund provisions;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">any conversion or exchange provisions;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">any participation rights;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">any voting rights; and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">the terms of any other preferences, limitations and restrictions, as are stated in the resolutions
adopted by our Board and as are permitted by the Delaware General Corporation Law (the &ldquo;DGCL&rdquo;).</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The transfer agent
and registrar for each series of preferred stock will be described in the applicable prospectus supplement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><A NAME="st_toc-09"></A><B>DESCRIPTION OF DEBT SECURITIES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The debt securities
may be senior debt securities or subordinated debt securities. The senior debt securities and the subordinated debt securities
are together referred to in this prospectus as the &ldquo;debt securities.&rdquo; The form of indenture is filed as an exhibit
to the registration statement of which this prospectus forms a part. We will include in a supplement to this prospectus the specific
terms of each series of debt securities being offered. The statements and descriptions in this prospectus or in any prospectus
supplement regarding provisions of the debt securities and the indenture are summaries thereof, do not purport to be complete and
are subject to, and are qualified in their entirety by reference to, all of the provisions of the indenture (and any amendments
or supplements we may enter into from time to time which are permitted under such indenture) and the debt securities, including
the definitions therein of certain terms.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Unless
otherwise specified in a prospectus supplement, the debt securities will be our direct unsecured obligations. The indenture does
not limit the aggregate principal amount of debt securities that we may issue and provides that we may issue debt securities from
time to time in one or more series, in each case with the same or various maturities, at par or at a discount. Unless indicated
in a prospectus supplement, we may issue additional debt securities of a particular series without the consent of the holders of
the debt securities of such series outstanding at the time of the issuance. Any such additional debt securities, together with
all other outstanding debt securities of that series, will constitute a single series of debt securities under the indenture</FONT>.</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><A NAME="st_toc-10"></A>DESCRIPTION OF GUARANTEES OF THE DEBT
SECURITIES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">If specified in the
applicable prospectus supplement, certain of our subsidiaries will guarantee the debt securities. The particular terms of any guarantee
will be described in the related prospectus supplement. Any guarantees will be joint and several and full and unconditional obligations
of the guarantors. The obligations of each guarantor under its guarantee will be limited as necessary to prevent that guarantee
from constituting a fraudulent conveyance or fraudulent transfer under applicable law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><A NAME="st_toc-11"></A>DESCRIPTION OF WARRANTS </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">We may issue warrants
for the purchase of our common stock, preferred stock or debt securities or any combination thereof. Warrants may be issued independently
or together with our common stock, preferred stock or debt securities and may be attached to or separate from any such offered
securities. Each series of warrants will be issued under a separate warrant agreement to be entered into between us and a bank
or trust company, as warrant agent. The warrant agent will act solely as our agent in connection with the warrants. The warrant
agent will not have any obligation or relationship of agency or trust for or with any holders or beneficial owners of warrants.
Warrants will be offered and exercisable for United States dollars only. Warrant will be issued in registered form only. The particular
terms of any warrants will be described in the related prospectus supplement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B><A NAME="st_toc-12"></A>Anti-Takeover
Effects of Certain Provisions of Delaware Law and Our Certificate of Incorporation and Bylaws</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&#9;Certain provisions
of the Certificate of Incorporation and Bylaws could have an anti-takeover effect. These provisions are intended to enhance the
likelihood of continuity and stability in the composition of the Board and in the policies formulated by the Board and to discourage
an unsolicited takeover of us if the Board determines that such takeover is not in the best interests of us and our stockholders.
However, these provisions could have the effect of discouraging certain attempts to acquire us or remove incumbent management even
if some or a majority of stockholders deemed such an attempt to be in their best interests.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&#9;The provisions
in the Certificate of Incorporation and the Bylaws include: (a)&nbsp;a procedure which requires stockholders to nominate directors
in advance of a meeting to elect such directors; (b)&nbsp;the authority to issue additional shares of preferred stock without stockholder
approval; (c) the number of directors on our Board will be fixed exclusively by the Board; (d) any newly created directorship or
any vacancy in our Board resulting from any increase in the authorized number of directors or the death, disability, resignation,
retirement, disqualification, removal from office or other cause will be filled solely by the affirmative vote of a majority of
the directors then in office, even if less than a quorum; and (e) our Bylaws may be amended by our Board.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&#9;The DGCL contains
statutory &ldquo;anti-takeover&rdquo; provisions, including Section&nbsp;203 of the DGCL which applies automatically to a Delaware
corporation unless that corporation elects to opt-out as provided in Section&nbsp;203. We, as a Delaware corporation, have not
elected to opt-out of Section&nbsp;203 of the DGCL. Under Section&nbsp;203 of the DGCL, a stockholder acquiring more than 15% of
the outstanding voting shares of a corporation (an &ldquo;Interested Stockholder&rdquo;) but less than 85% of such shares may not
engage in certain business combinations with the corporation for a period of three years subsequent to the date on which the stockholder
became an Interested Stockholder unless prior to such date, the board of directors of the corporation approves either the business
combination or the transaction which resulted in the stockholder becoming an Interested Stockholder, or the business combination
is approved by the board of directors and by the affirmative vote of at least 66<SUP>2/3</SUP>% of the outstanding voting stock
that is not owned by the Interested Stockholder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Limitation of Liability and Indemnification of Officers and
Directors</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&#9;Pursuant to provisions
of the DGCL, we have adopted provisions in our Certificate of Incorporation that provide that our directors shall not be personally
liable for monetary damages to us or our stockholders for a breach of fiduciary duty as a director to the full extent that the
Securities Act permits the limitation or elimination of the liability of directors.</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">We have in effect
a directors and officers liability insurance policy indemnifying our directors and officers and the directors and officers of our
subsidiaries within a specific limit for certain liabilities incurred by them, including liabilities under the Securities Act.
We pay the entire premium of this policy. Our Certificate of Incorporation also contains a provision for the indemnification by
us of all of our directors and officers, to the fullest extent permitted by the DGCL.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Exclusive Forum</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our Bylaws provide
that, unless we consent in writing to the selection of an alternative forum, the Court of Chancery of the State of Delaware shall,
to the fullest extent permitted by law, be the sole and exclusive forum for (a) any derivative action or proceeding brought on
behalf of the Company, (b) any action asserting a claim of breach of a fiduciary duty owed by any director, officer, other employee
or stockholder of the Company to the Company or the Company&rsquo;s stockholders, (c) any action asserting a claim arising pursuant
to any provision of the DGCL or as to which the DGCL confers jurisdiction on the Court of Chancery of the State of Delaware, or
(d) any action asserting a claim governed by the internal affairs doctrine. Any person or entity purchasing or otherwise acquiring
any interest in shares of our stock shall be deemed to have notice of and consented to the foregoing forum selection provisions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><A NAME="st_toc-13"></A><B>SELLING STOCKHOLDERS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> This prospectus
relates in part to the possible sale by certain of our stockholders who are referred to herein as &ldquo;selling stockholders,&rdquo;
and may from time to time offer and sell such securities pursuant to this prospectus and any applicable prospectus supplement.
These shares of our common stock were issued to certain of the selling stockholders on May 28, 2010, as consideration paid in
connection with the Company&rsquo;s acquisition of Gregory Mountain Products, Inc., pursuant to an exemption from registration
under Section 4(2) of the Securities Act and Regulation D promulgated thereunder for transactions by an issuer not involving a
public offering. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> The applicable
prospectus supplement will set forth the name of each of the selling stockholders, the amount of our common stock owned by each
selling stockholder prior to the offering, the number of shares of our common stock to be offered by each selling stockholder
and the amount of our common stock to be owned by each selling stockholder after completion of the offering. The applicable prospectus
supplement will also disclose whether any of the selling stockholders has held any position or office with, has been employed
by or otherwise has had a material relationship with us (or any of our predecessors or affiliates) during the three years prior
to the date of such prospectus supplement. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><A NAME="st_toc-14"></A><B>PLAN OF DISTRIBUTION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We and any selling
stockholder may sell securities in any of three ways (or in any combination) from time to time:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">through underwriters or dealers;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">directly to a limited number of purchasers or to a single purchaser; or</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">through agents.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The applicable prospectus
supplement will set forth the terms of the offering of such securities, including:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">the name or names of any underwriters, dealers or agents and the amounts of securities underwritten
or purchased by each of them; and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">the public offering price of the securities and the proceeds to us and any discounts, commissions
or concessions allowed or reallowed or paid to dealers.</TD></TR></TABLE>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Any public offering
price and any discounts or concessions allowed or reallowed or paid to dealers may be changed from time to time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We and any selling
stockholder may effect the distribution of the securities from time to time in one or more transactions either:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">at a fixed price or at prices that may be changed;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">at market prices prevailing at the time of sale;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">at prices relating to such prevailing market prices; or</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">at negotiated prices.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">If underwriters are
used in the sale of any securities, the securities will be acquired by the underwriters for their own account and may be resold
from time to time in one or more transactions, including negotiated transactions, at a fixed public offering price or at varying
prices determined at the time of sale. The securities may be either offered to the public through underwriting syndicates represented
by managing underwriters, or directly by underwriters. Generally, the underwriters&rsquo; obligations to purchase the securities
will be subject to certain conditions precedent. The underwriters will be obligated to purchase all of the securities if they purchase
any of the securities (other than any securities purchased upon exercise of any option to purchase additional securities).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Any selling stockholders,
where applicable, may&nbsp;also resell all or a portion of their shares of our common stock in transactions exempt from the registration
requirements of the Securities Act in reliance upon Rule&nbsp;144 under the Securities Act provided they meet the criteria and
conform&nbsp;to the requirements of that rule, Section 4(1) of the Securities Act or other applicable exemptions, regardless of
whether the securities are covered by the registration statement of which this prospectus forms a part.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We and any selling
stockholder may sell the securities through agents from time to time. The applicable prospectus supplement will name any agent
involved in the offer or sale of the securities and any commissions paid to them. Generally, any agent will be acting on a best
efforts basis for the period of its appointment. In addition, we or any selling stockholder may enter into derivative, sale or
forward sale transactions with third parties, or sell securities not covered by this prospectus to third parties in privately negotiated
transactions. If the applicable prospectus supplement indicates, in connection with such a transaction, the third parties may,
pursuant to this prospectus and the applicable prospectus supplement, sell securities covered by this prospectus and the applicable
prospectus supplement. If so, a third party may use securities borrowed from us or others to settle such sales and may use securities
received from us, any selling stockholder or others to settle those sales to close out any related short positions. The third party
in such sale transactions will be an underwriter and will be identified in the applicable prospectus supplement (or a post-effective
amendment). We and any selling stockholder may also loan or pledge securities covered by this prospectus and the applicable prospectus
supplement to third parties, who may sell the loaned securities or, in an event of default in the case of a pledge, sell the pledged
securities pursuant to this prospectus and the applicable prospectus supplement. We may also sell the securities directly, in which
event, no underwriters or agents will be involved.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Any selling stockholders,
underwriters, broker-dealers and agents that participate in the distribution of the securities may be deemed to be &ldquo;underwriters&rdquo;
as defined in the Securities Act. Any commissions paid or any discounts or concessions allowed to any such persons, and any profits
they receive on resale of the securities, may be deemed to be underwriting discounts and commissions under the Securities Act.
Additionally, because selling stockholders may be deemed to be &rdquo;underwriters&rdquo; within the meaning of Section 2(11) of
the Securities Act, selling stockholders may be subject to the prospectus delivery requirements of the Securities Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Agents, underwriters
and dealers may&nbsp;be entitled under relevant agreements with us or any selling stockholder to indemnification by us against
certain liabilities, including liabilities under the Securities Act, or to contribution with respect to payments which such agents,
underwriters and dealers may&nbsp;be required to make in respect thereof. The terms and conditions of any indemnification or contribution
will be described in the applicable prospectus supplement. We may&nbsp;pay any or all expenses incurred with respect to the registration
of the shares of common stock owned by any selling stockholders, other than underwriting fees, discounts or commissions, which
will be borne by the selling stockholders.</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Underwriters, broker-dealers
or agents may receive compensation in the form of commissions, discounts or concessions from us or any selling stockholder.&nbsp;
Underwriters, broker-dealers or agents may also receive compensation from the purchasers of securities for whom they act as agents
or to whom they sell as principals, or both.&nbsp; Compensation as to a particular underwriter, broker-dealer or agent might be
in excess of customary commissions and will be in amounts to be negotiated in connection with transactions involving securities.&nbsp;
In effecting sales, broker-dealers engaged by us or any selling stockholder may arrange for other broker-dealers to participate
in the resales. Maximum compensation to any underwriters, dealers or agents will not exceed any applicable FINRA limitations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Underwriters or agents
may purchase and sell the securities in the open market. These transactions may include over-allotments, stabilizing transactions,
syndicate covering transactions and penalty bids. Over-allotments involves sales in excess of the offering size, which creates
a short position. Stabilizing transactions consist of bids or purchases for the purpose of preventing or retarding a decline in
the market price of the securities and are permitted so long as the stabilizing bids do not exceed a specified maximum. Syndicate
covering transactions involve the placing of any bid on behalf of the underwriting syndicate or the effecting of any purchase to
reduce a short position created in connection with an offering. The underwriters or agents also may impose a penalty bid, which
permits them to reclaim selling concessions allowed to syndicate members or certain dealers if they repurchase the securities in
stabilizing or covering transactions. These activities may stabilize, maintain or otherwise affect the market price of the securities,
which may be higher than the price that might otherwise prevail in the open market. These activities, if begun, may be discontinued
at any time. These transactions may be effected on any exchange on which the securities are traded, in the over-the-counter market
or otherwise.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We may sell the securities
directly. In that event, no underwriters or agents would be involved. We may also sell the securities through agents designated
from time to time. In the prospectus supplement, we will name any agent involved in the offer or sale of the securities, and we
will describe any commissions payable by us to the agent. Unless we inform you otherwise in the prospectus supplement, any agent
will agree to use its reasonable best efforts to solicit purchases for the period of its appointment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Agents and underwriters
may be entitled to indemnification by us against certain civil liabilities, including liabilities under the Securities Act, or
to contribution with respect to payments which the agents or underwriters may be required to make in respect thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Agents and underwriters
may be customers of, engage in transactions with, or perform services for us or the selling stockholders in the ordinary course
of business.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The specific terms
of any lock-up provisions in respect of any given offering of common stock will be described in the applicable prospectus supplement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The place and time
of delivery for securities will be set forth in the accompanying prospectus supplement for such securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><A NAME="st_toc-15"></A>WHERE YOU CAN FIND MORE INFORMATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We are subject to the
informational requirements of the Securities Exchange Act of 1934, as amended (the &ldquo;Exchange Act&rdquo;), and in accordance
therewith we are required to file periodic reports, proxy statements and other information with the Commission. Such reports, proxy
statements and other information filed by us can be inspected and copied at the Commission&rsquo;s Public Reference Room located
at 100 F Street, N.E. Washington, D.C. 20549, at the prescribed rates. The Commission also maintains a site on the World Wide Web
that contains reports, proxy and information statements and other information regarding registrants that file electronically. The
address of such site is http://www.sec.gov. Please call 1-800-SEC-0330 for further information on the operation of the Commission&rsquo;s
Public Reference Room.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> Our common stock
is traded on the Nasdaq Global Select Market under the symbol &ldquo;CLAR.&rdquo; Certain materials filed by us may be inspected
at the NASDAQ Stock Market, One Liberty Plaza, 165 Broadway, New York, NY 10006. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This prospectus omits
certain information that is contained in the registration statement on file with the Commission, of which this prospectus is a
part. For further information with respect to us and our securities, reference is made to the registration statement, including
the exhibits incorporated therein by reference or filed therewith. Statements herein contained concerning the provisions of any
document are not necessarily complete and, in each instance, reference is made to the copy of such document filed as an exhibit
or incorporated by reference to the registration statement. Each such statement is qualified in its entirety by such reference.
The registration statement and the exhibits may be inspected without charge at the offices of the Commission or copies thereof
obtained at prescribed rates from the public reference section of the Commission at the addresses set forth above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><A NAME="st_toc-16"></A><B>INCORPORATION OF CERTAIN DOCUMENTS BY
REFERENCE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Commission allows
us to &ldquo;incorporate by reference&rdquo; the information we file with it, which means that we can disclose important business,
financial and other information to you in this prospectus by referring you to the publicly filed documents containing this information.
The information incorporated by reference is deemed to be a part of this prospectus, except for any information superseded by information
contained in this prospectus or filed later by us with the Commission. This prospectus incorporates by reference the documents
set forth below that we have previously filed with the Commission, other than any portion of any such filing that is furnished
under the applicable Commission rules, which documents contain important information about us and our common stock:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify; padding-right: 0.5in">our annual report on Form 10-K for the year ended December 31, 2016, filed
with the Commission on March 6, 2017;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify; padding-right: 0.5in">our definitive proxy statement filed with the Commission on April 28, 2017;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify; padding-right: 0.5in">our quarterly report on Form 10-Q for the quarter ended March 31, 2017, filed
with the Commission on May 8, 2017;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"> <FONT STYLE="font-family: Symbol">&middot;</FONT> </TD><TD STYLE="text-align: justify; padding-right: 0.5in"> our
                                         quarterly report on Form 10-Q for the quarter ended June 30, 2017, filed with the Commission
                                         on August 7, 2017; </TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.5in; text-align: justify"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"> <FONT STYLE="font-family: Symbol">&middot;</FONT> </TD><TD STYLE="text-align: justify; padding-right: 0.5in"> our
                                         quarterly report on Form 10-Q for the quarter ended September 30, 2017, filed with the
                                         Commission on November 7, 2017; </TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"> <FONT STYLE="font-family: Symbol">&middot;</FONT> </TD><TD STYLE="text-align: justify; padding-right: 0.5in"> our
                                         current report on Form 8-K filed with the Commission on August 14, 2017; </TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"> <FONT STYLE="font-family: Symbol">&middot;</FONT> </TD><TD STYLE="text-align: justify; padding-right: 0.5in"> our
                                         current report on Form 8-K filed with the Commission on August 25, 2017 and as amended
                                         on Form 8-K/A filed with the Commission on October 20, 2017; </TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.5in; text-align: justify"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"> <FONT STYLE="font-family: Symbol">&middot;</FONT> </TD><TD STYLE="text-align: justify; padding-right: 0.5in"> our
                                         current report on Form 8-K filed with the Commission on September 22, 2017; and </TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"> &nbsp; </P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify; padding-right: 0.5in">the description of our common stock contained in our registration statement
on Form 8-A/A filed on June 9, 2010, including any amendments or reports filed for the purpose of updating that description.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">All of such documents
are on file with the Commission. In addition, all documents filed by us pursuant to Sections 13(a), 13(c), 14 and 15(d) of the
Exchange Act, subsequent to the date of this prospectus are incorporated by reference in this prospectus, other than any portion
of any such filing that is furnished under the applicable commission rules, and are a part hereof from the date of filing of such
documents. Any statement contained in a document incorporated or deemed to be incorporated by reference herein shall be deemed
to be modified or superseded for purposes of this prospectus to the extent that a statement contained herein or in any subsequently
filed document that is also incorporated by reference herein modifies or replaces such statement. Any statements so modified or
superseded shall not be deemed, except as so modified or superseded, to constitute a part of this prospectus.</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> Any information
incorporated by reference herein is available to you without charge upon written or oral request. If you would like a copy of
any of this information, please submit your request to us at Clarus Corporation, 2084 East 3900 South, Salt Lake City, Utah 84124,
Attention: Secretary, or call (801) 278-5552. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><A NAME="st_toc-17"></A>EXPERTS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> The consolidated
financial statements of Clarus Corporation as of December 31, 2016 and 2015 and for each of the years in the three-year period
ended December 31, 2016, and management&rsquo;s assessment of the effectiveness of internal control over financial reporting as
of December 31, 2016 have been incorporated by reference herein, in reliance on the reports of KPMG LLP, independent registered
public accounting firm, incorporated by reference herein, and upon the authority of said firm as experts in auditing and accounting. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> The consolidated
financial statements of Sierra Bullets, L.L.C. as of December 31, 2016 and 2015, and the related consolidated statements of income,
changes in members&rsquo; equity and cash flows for the years then ended, have been incorporated by reference herein, in reliance
on the reports of Singer Lewak, LLP independent registered public accounting firm, incorporated by reference herein, and upon
the authority of said firm as experts in auditing and accounting. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><A NAME="st_toc-18"></A><B>LEGAL MATTERS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The validity of the
securities offered hereby will be passed upon for us by Kane Kessler, P.C., New York, New York. Any underwriters will be advised
of the other issues relating to any offering by their own legal counsel.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>PART II</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">INFORMATION NOT REQUIRED
IN PROSPECTUS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">Item 14. Other Expenses
of Issuance and Distribution</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The expenses to be
paid by us in connection with the distribution of securities of Clarus Corporation (the &ldquo;Registrant&rdquo;) being registered
are as set forth in the following table:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 81%; padding-right: 5.4pt; padding-left: 5.4pt"> <FONT STYLE="font-size: 10pt">&nbsp;&nbsp;Registration
    Fee - Securities and Exchange Commission </FONT> </TD>
    <TD STYLE="width: 19%; padding-right: 5.4pt; padding-left: 5.4pt"> <FONT STYLE="font-size: 10pt">$25,358</FONT> </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"> <FONT STYLE="font-size: 10pt">*Legal Fees and Expenses</FONT> </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"> <FONT STYLE="font-size: 10pt">&nbsp;&nbsp;75,000</FONT> </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"> <FONT STYLE="font-size: 10pt">*Accounting Fees and Expenses</FONT> </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"> <FONT STYLE="font-size: 10pt">&nbsp;&nbsp;15,000</FONT> </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"> <FONT STYLE="font-size: 10pt">*Printing Fees and Expenses</FONT> </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"> <FONT STYLE="font-size: 10pt">&nbsp;&nbsp;1,000</FONT> </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"> <FONT STYLE="font-size: 10pt">*Blue Sky Fees</FONT> </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"> <FONT STYLE="font-size: 10pt">&nbsp;&nbsp;-</FONT> </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"> <FONT STYLE="font-size: 10pt">*Miscellaneous</FONT> </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"> <FONT STYLE="font-size: 10pt"><U>&nbsp;&nbsp;20,000</U></FONT> </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"> <FONT STYLE="font-size: 10pt">________________</FONT> </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"> <FONT STYLE="font-size: 10pt">*Total</FONT> </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"> <FONT STYLE="font-size: 10pt">$136,358</FONT> </TD></TR>
</TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left">*</TD><TD STYLE="text-align: justify">Estimated</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in">Item 15. Indemnification
of Directors and Officers</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Under Section 145 of
the Delaware General Corporation Law (&ldquo;DGCL&rdquo;), a corporation may indemnify any person who was or is a party or is threatened
to be made a party to any threatened, pending or completed action, suit or proceeding, whether civil, criminal, administrative
or investigative (other than an action by or in the right of the corporation) by reason of the fact that such person is or was
a director, officer, employee or agent of the corporation, or is or was serving at the request of the corporation as a director,
officer, employee or agent of another corporation or other enterprise, against expenses, costs or fees (including attorneys&rsquo;
fees), judgments, fines and amounts paid in settlement actually and reasonably incurred by such person in connection with such
action, suit or proceeding (a) if such person acted in good faith and in a manner that such person reasonably believed to be in
or not opposed to the best interests of the corporation and (b) with respect to any criminal action or proceeding, if such person
had no reasonable cause to believe such conduct was unlawful.&nbsp;To the extent that such person has been successful on the merits
or otherwise in defending any such action, suit or proceeding referred to above or any claim, issue or matter therein, he or she
is entitled to indemnification for expenses (including attorneys&rsquo; fees) actually and reasonably incurred by such person in
connection therewith. In the case of an action or suit by or in the right of the corporation, no indemnification may be made in
respect to any claim, issue or matter as to which such person shall have been adjudged to be liable to the corporation unless and
only to the extent that the Court of Chancery of the State of Delaware, or the court in which such action or suit was brought,
shall determine that, despite the adjudication of liability, such person is fairly and reasonably entitled to indemnity for such
expenses which the court shall deem proper. Section&nbsp;145 provides that, to the extent a director, officer, employee or agent
of a corporation has been successful in the defense of any action, suit or proceeding referred to above or in the defense of any
claim, issue or manner therein, such person shall be indemnified against expenses (including attorneys&rsquo; fees) actually and
reasonably incurred by such person in connection therewith.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Registrant&rsquo;s
Amended and Restated Certificate of Incorporation, as amended (the &ldquo;Certificate of Incorporation&rdquo;), provides that the
Registrant shall indemnify to the full extent permitted by law any person made or threatened to be made a party to an action or
proceeding, whether criminal, civil, administrative or investigative, by reason of the fact that he, his testator or intestate
is or was a director, officer or employee of the Registrant or any predecessor of the Registrant or serves or served any other
enterprise as a director, officer or employee at the request of the Registrant or any predecessor of the Registrant.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Registrant&rsquo;s
Amended and Restated By-Laws, as amended (the&nbsp;&nbsp;&ldquo;By-Laws&rdquo;), provide that the Registrant shall, to the maximum
extent and in the manner permitted by the DGCL indemnify any person against expenses (including attorneys&rsquo; fees), judgments,
fines and amounts paid in settlement actually and reasonably incurred in connection with any threatened, pending or completed action,
suit or proceeding in which such person was or is a party or is threatened to be made a party by reason of the fact that such person
is or was a director or officer of the Registrant. For purposes of such provisions, the By-Laws defines a&nbsp;&nbsp;&ldquo;director&rdquo;
or&nbsp;&nbsp;&ldquo;officer&rdquo; of the Registrant as, in addition to any director or officer of the Registrant, any person
who is or was serving at the request of the Registrant as a director or officer of another corporation, partnership, joint venture,
trust or other enterprise or who was a director or officer of a corporation which was a predecessor corporation of the Registrant
or of another enterprise at the request of such predecessor corporation.&nbsp; The Registrant&rsquo;s By-Laws provide that the
Registrant shall be required to indemnify a director or officer in connection with an action, suit or proceeding (or part thereof)
initiated by such director or officer only if the initiation of such action, suit or proceeding (or part thereof) by the director
or officer was authorized by the Board of Directors of the Registrant. The Registrant is required to pay the expenses (including
attorneys&rsquo; fees) incurred by a director or officer of the Registrant entitled to such indemnification in defending any such
action, suit or proceeding; provided, however, that payment of expenses incurred by a director or officer of the Registrant in
advance of the final disposition of such action, suit or proceeding shall be made only upon receipt of an undertaking by the director
or officer to repay all amounts advanced if it shall ultimately be determined that the director or officer is not entitled to be
indemnified. Any repeal or modification of the foregoing provisions of the Registrant&rsquo;s By-Laws shall not adversely affect
any right or protection hereunder of any person in respect of any act or omission occurring prior to the time of such repeal or
modification.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The By-Laws provide
that if such an indemnification claim provided for under the By-Laws is not paid in full by the Registrant within sixty (60) days
after a written claim has been received by the Registrant, except in the case of a claim for an advancement of expenses, in which
case the applicable period shall be twenty (20) days, the person claiming indemnification may at any time thereafter bring suit
against the Registrant to recover the unpaid amount of the claim. If successful in whole or in part in any such suit or in a suit
brought by the Registrant to recover an advancement of expenses pursuant to the terms of an undertaking, the indemnitee shall be
entitled to be paid also the expense of prosecuting or defending such suit. In any suit brought by a person claiming indemnification
to enforce a right to indemnification hereunder (but not in a suit brought by any such person to enforce a right to an advancement
of expenses), it shall be a defense that such person has not met the applicable standard of conduct set forth in the DGCL. In any
suit by the Registrant to recover an advancement of expenses pursuant to the terms of an undertaking, the Registrant shall be entitled
to recover such expenses upon a final adjudication that such person has not met the applicable standard of conduct set forth in
the DGCL. Neither the failure of the Registrant (including its Board of Directors, independent legal counsel or its stockholders)
to have made a determination prior to the commencement of any such suit that indemnification is proper in the circumstances because
the person claiming&nbsp;&nbsp;indemnification has met the applicable standard of conduct set forth in the DGCL, nor an actual
determination by the Registrant (including its Board of Directors, independent legal counsel or its stockholders) that the indemnitee
has not met such applicable standard of conduct, shall create a presumption that the indemnitee has not met the applicable standard
of conduct or, in the case of such a suit brought by a person claiming indemnification, be a defense to such suit. In any suit
brought by a person claiming indemnification to enforce a right hereunder, or by the Registrant to recover an advancement of expenses
pursuant to the terms of an undertaking, the burden of proving that such person is not entitled to be indemnified or to such advancement
of expenses shall be on the Registrant.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The By-Laws provide
that the rights to indemnification and to the advancement of expenses conferred thereunder are not exclusive of any other right
which any person may have or acquire under any statute, the Certificate of Incorporation, the By-Laws, by agreement, by vote of
stockholders or disinterested directors or otherwise.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Registrant&rsquo;s
directors and officers are insured (subject to certain exceptions and deductions) against liabilities which they may incur in their
capacity as such including liabilities under the Securities Act, under liability insurance policies carried by the Registrant.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">Item 16. Exhibits
and Financial Statement Schedules</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The following exhibits are included herein or incorporated by
reference:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 12%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> <FONT STYLE="font-size: 10pt"><U>Exhibit</U></FONT> </TD>
    <TD STYLE="width: 88%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> <FONT STYLE="font-size: 10pt"><U>Description</U></FONT> </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"> &nbsp; </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> <FONT STYLE="font-size: 10pt">1.1</FONT> </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> <FONT STYLE="font-size: 10pt">Form of Underwriting
    Agreement. (1)</FONT> </TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 12%; padding-right: 5.4pt; padding-left: 5.4pt"> <A HREF="http://www.sec.gov/Archives/edgar/data/913277/000093176302003335/ddefm14a.htm#appc392_29" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">4.1</FONT></A> </TD>
    <TD STYLE="width: 88%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> <A HREF="http://www.sec.gov/Archives/edgar/data/913277/000093176302003335/ddefm14a.htm#appc392_29" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">Amended
    and Restated Certificate of Incorporation of the Registrant (filed as Appendix C to the Registrant&rsquo;s Definitive Proxy
    Statement, filed with the Commission on November 6, 2002 and incorporated herein by reference).</FONT></A> </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"> &nbsp; </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"> <A HREF="http://www.sec.gov/Archives/edgar/data/913277/000095013603001841/file002.txt" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">4.2</FONT></A> </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> <A HREF="http://www.sec.gov/Archives/edgar/data/913277/000095013603001841/file002.txt" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">Certificate
    of Amendment to Amended and Restated Certificate of Incorporation of the Registrant (filed as Exhibit 3.1 of the Registrant&rsquo;s
    Current Report on Form 8-K, filed with the Commission on July 31, 2003 and incorporated herein by reference).</FONT></A> </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"> &nbsp; </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"> <A HREF="http://www.sec.gov/Archives/edgar/data/913277/000114420417043206/v473260_ex3-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">4.3</FONT></A> </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> <A HREF="http://www.sec.gov/Archives/edgar/data/913277/000114420417043206/v473260_ex3-1.htm"  STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">Certificate
    of Amendment of the Amended and Restated Certificate of Incorporation of the Registrant (filed as Exhibit 3.1 to the Registrant&rsquo;s
    Current Report on Form 8-K, filed with the Commission on August 14, 2017 and incorporated herein by reference).</FONT></A> </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"> &nbsp; </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"> <A HREF="http://www.sec.gov/Archives/edgar/data/913277/000114420411003720/v208768_ex3-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">4.4</FONT></A> </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> <A HREF="http://www.sec.gov/Archives/edgar/data/913277/000114420411003720/v208768_ex3-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">Certificate
    of Amendment of the Amended and Restated Certificate of Incorporation of the Registrant (filed as Exhibit 3.1 to the Registrant&rsquo;s
    Current Report on Form 8-K, filed with the Commission on January 24, 2011 and incorporated herein by reference).</FONT></A> </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"> &nbsp; </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"> <A HREF="http://www.sec.gov/Archives/edgar/data/913277/000093176302003335/ddefm14a.htm#appd392_30" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">4.5</FONT></A> </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> <A HREF="http://www.sec.gov/Archives/edgar/data/913277/000093176302003335/ddefm14a.htm#appd392_30" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">Amended
    and Restated Bylaws of the Registrant (filed as Appendix D to the Registrant&rsquo;s Definitive Proxy Statement, filed with
    the Commission on November 6, 2002 and incorporated herein by reference).</FONT></A> </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"> &nbsp; </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"> <A HREF="http://www.sec.gov/Archives/edgar/data/913277/000095013603000738/file002.txt" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">4.6</FONT></A> </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> <A HREF="http://www.sec.gov/Archives/edgar/data/913277/000095013603000738/file002.txt" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">Amendment
    No. 1 to the Amended and Restated Bylaws of the Registrant (filed as Exhibit 3.4 to the Registrant&rsquo;s Annual Report on
    Form 10-K, filed with the Commission on March 31, 2003 and incorporated herein by reference).</FONT></A> </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"> &nbsp; </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"> <A HREF="http://www.sec.gov/Archives/edgar/data/913277/000114420410031984/v184395_ex3-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">4.7</FONT></A> </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> <A HREF="http://www.sec.gov/Archives/edgar/data/913277/000114420410031984/v184395_ex3-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">Amendment
    No. 2 to the Amended and Restated By-Laws of the Registrant (filed as Exhibit 3.1 to the Registrant&rsquo;s Current Report
    on Form 8-K, filed with the Commission on June 4, 2010 and incorporated herein by reference).</FONT></A> </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"> &nbsp; </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"> <A HREF="http://www.sec.gov/Archives/edgar/data/913277/000114420410042297/v192767_ex3-2.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">4.8</FONT></A> </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> <A HREF="http://www.sec.gov/Archives/edgar/data/913277/000114420410042297/v192767_ex3-2.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">Amendment
    No. 3 to the Amended and Restated By-Laws of the Registrant (filed as Exhibit 3.2 to the Registrant&rsquo;s Quarterly Report
    on Form 10-Q, filed with the Commission on August 9, 2010 and incorporated herein by reference).</FONT></A> </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"> &nbsp; </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"> <A HREF="http://www.sec.gov/Archives/edgar/data/913277/000114420416107606/v442039_ex3-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">4.9</FONT></A> </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"> <A HREF="http://www.sec.gov/Archives/edgar/data/913277/000114420416107606/v442039_ex3-1.htm" STYLE="-sec-extract: exhibit">Amendment
    No. 4 to the Amended and Restated By-Laws of the Registrant (filed as Exhibit 3.1 to the Registrant&rsquo;s Current Report
    on Form 8-K, filed with the Commission on June 9, 2016 and incorporated herein by reference).</A> </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"> &nbsp; </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"> <A HREF="http://www.sec.gov/Archives/edgar/data/913277/000114420417040878/v472426_ex3-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">4.10</FONT></A> </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> <A HREF="http://www.sec.gov/Archives/edgar/data/913277/000114420417040878/v472426_ex3-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">Amendment
    No. 5 to the Amended and Restated By-Laws of the Registrant (filed as Exhibit 3.1 to the Registrant&rsquo;s Quarterly Report
    on Form 10-Q, filed with the Commission on August 7, 2017 and incorporated herein by reference).</FONT></A> </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"> &nbsp; </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"> <A HREF="http://www.sec.gov/Archives/edgar/data/913277/000114420408008111/v102795_ex3-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">4.11</FONT></A> </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> <A HREF="http://www.sec.gov/Archives/edgar/data/913277/000114420408008111/v102795_ex3-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">Form
    of Certificate of Designation of Series A Junior Participating Preferred Stock (filed as Exhibit 3.1 to the Registrant&rsquo;s
    Current Report on Form 8-K, filed with the Commission on February 13, 2008 and incorporated herein by reference).</FONT></A> </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"> &nbsp; </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"> <A HREF="http://www.sec.gov/Archives/edgar/data/913277/000114420411014717/v214265_ex4-2.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">4.12</FONT></A> </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> <A HREF="http://www.sec.gov/Archives/edgar/data/913277/000114420411014717/v214265_ex4-2.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">Registrant&rsquo;s
    Specimen Common Stock Certificate (filed as Exhibit 4.2 to the Registrant&rsquo;s Annual Report on Form 10-K, filed with the
    Commission on March 15, 2011 and incorporated herein by reference).</FONT></A> </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"> &nbsp; </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"> <A HREF="http://www.sec.gov/Archives/edgar/data/913277/000114420408008111/v102795_ex4-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">4.13</FONT></A> </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> <A HREF="http://www.sec.gov/Archives/edgar/data/913277/000114420408008111/v102795_ex4-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">Form
    of Rights Certificate (filed as Exhibit 4.1 to the Registrant&rsquo;s Current Report on Form 8-K, filed with the Commission
    on February 13, 2008 and incorporated herein by reference).</FONT></A> </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"> &nbsp; </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"> <A HREF="http://www.sec.gov/Archives/edgar/data/913277/000114420408008111/v102795_ex4-2.htm" STYLE="-sec-extract: exhibit">
    4.14</A> </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"> <A HREF="http://www.sec.gov/Archives/edgar/data/913277/000114420408008111/v102795_ex4-2.htm" STYLE="-sec-extract: exhibit">Rights
    Agreement, dated as of February 12, 2008, by and between Clarus Corporation and American Stock Transfer &amp; Trust Company
    (filed as Exhibit 4.2 to the Company&rsquo;s Current Report on Form 8-K, filed with the Commission on February 13, 2008 and
    incorporated herein by reference).</A> </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"> &nbsp; </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"> <FONT STYLE="font-size: 10pt">4.15 </FONT> </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> <FONT STYLE="font-size: 10pt">Form of Indenture
    between the Registrant and [__________], as Trustee. (4)</FONT> </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"> &nbsp; </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"> <FONT STYLE="font-size: 10pt">4.16</FONT> </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> <FONT STYLE="font-size: 10pt">Form of Debt Securities.
    (4)</FONT> </TD></TR>
</TABLE>

<!-- Field: Page; Sequence: 23; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0pt; text-align: center; margin-bottom: 0pt">II-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->3<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 12%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> &nbsp; </TD>
    <TD STYLE="width: 88%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> <FONT STYLE="font-size: 10pt"><A HREF="tv479755_ex5-1.htm">5.1</A></FONT> </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> <FONT STYLE="font-size: 10pt"><A HREF="tv479755_ex5-1.htm">Opinion
    of Kane Kessler, P.C. (2)</A></FONT> </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> &nbsp; </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> <A HREF="tv479755_ex12-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">12.1</FONT></A> </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"> <A HREF="tv479755_ex12-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">Statement
    re:&nbsp;&nbsp;Computation of Ratio of Earnings to Fixed Charges. (2)</FONT></A> </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> &nbsp; </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> <FONT STYLE="font-size: 10pt"><A HREF="tv479755_ex23-1.htm">23.1</A></FONT> </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"> <FONT STYLE="font-size: 10pt"><A HREF="tv479755_ex23-1.htm">Consent of Independent Registered Public Accounting Firm. (2)</A></FONT> </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> &nbsp; </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> <FONT STYLE="font-size: 10pt"><A HREF="tv479755_ex23-2.htm">23.2</A></FONT> </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <A HREF="tv479755_ex23-2.htm">Consent of Independent Auditor. (2)</A> </P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> &nbsp; </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> <FONT STYLE="font-size: 10pt"><A HREF="tv479755_ex5-1.htm">23.3</A></FONT> </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"> <FONT STYLE="font-size: 10pt"><A HREF="tv479755_ex5-1.htm">Consent of Kane Kessler, P.C. (Included in Exhibit 5.1). (2)</A></FONT> </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> &nbsp; </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> <FONT STYLE="font-size: 10pt"><A HREF="#s3_001" STYLE="-sec-extract: exhibit">24.1</A></FONT> </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"> <FONT STYLE="font-size: 10pt"><A HREF="#s3_001" STYLE="-sec-extract: exhibit">Power of Attorney (included on the signature pages of the Registration Statement hereto). (4)</A></FONT> </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> &nbsp; </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> <FONT STYLE="font-size: 10pt">25.1&#9;</FONT> </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"> <FONT STYLE="font-size: 10pt">Form T-1 Statement of Eligibility under
    the Trust Indenture Act of 1939, as amended. (3)</FONT> </TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">__________________________</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 4.5pt"></TD><TD STYLE="width: 28.5pt">(1)</TD><TD STYLE="text-align: justify">To be filed, if necessary, by post-effective amendment to this Registration Statement or incorporated
by reference from documents filed or to be filed with the Securities and Exchange Commission under the Securities Exchange Act
of 1934, as amended.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 4.5pt"></TD><TD STYLE="width: 28.5pt">(2)</TD><TD STYLE="text-align: justify">Filed herewith.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 4.5pt"></TD><TD STYLE="width: 28.5pt">(3)</TD><TD STYLE="text-align: justify">To be filed separately pursuant to the requirements of Section 305(b)(2) of the Trust Indenture
Act of 1939, as amended</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 4.5pt"></TD><TD STYLE="width: 28.5pt; text-align: left"> (4) </TD><TD STYLE="text-align: justify"> Previously
                                         filed<B>.</B> </TD>
</TR></TABLE>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 17. Undertakings</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 6pt"><FONT STYLE="font-size: 10pt">(a)</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-top: 6pt"><FONT STYLE="font-size: 10pt">The undersigned registrant hereby undertakes: </FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 6pt; width: 5%">&nbsp;</TD>
    <TD STYLE="padding-top: 6pt; width: 5%"><FONT STYLE="font-size: 10pt">(1)</FONT></TD>
    <TD STYLE="padding-top: 6pt; width: 90%"><FONT STYLE="font-size: 10pt">to file, during any period in which offers or sales are being made, a post-effective amendment to this registration statement: </FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="vertical-align: top; width: 5%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 5%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-top: 6pt; width: 5%"><FONT STYLE="font-size: 10pt">(i)</FONT></TD>
    <TD STYLE="vertical-align: top; padding-top: 6pt; width: 85%"><FONT STYLE="font-size: 10pt">to include any prospectus required by Section&nbsp;10(a)(3) of the Securities Act of 1933; </FONT></TD>
    </TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-top: 6pt"><FONT STYLE="font-size: 10pt">(ii)</FONT></TD>
    <TD STYLE="vertical-align: top; padding-top: 6pt"><FONT STYLE="font-size: 10pt">to reflect in the prospectus any facts or events arising after the effective date of the registration statement (or the most recent post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set forth in the registration statement. Notwithstanding the foregoing, any increase or decrease in volume of securities offered (if the total dollar value of securities offered would not exceed that which was registered) and any deviation from the low or high end of the estimated maximum offering range may be reflected in the form of prospectus filed with the SEC pursuant to Rule 424(b) if, in the aggregate, the changes in volume and price represent no more than a 20% change in the maximum aggregate offering price set forth in the &ldquo;Calculation of Registration Fee&rdquo; table in the effective registration statement; and </FONT></TD>
    </TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-top: 6pt"><FONT STYLE="font-size: 10pt">(iii)</FONT></TD>
    <TD STYLE="vertical-align: top; padding-top: 6pt"><FONT STYLE="font-size: 10pt">to include any material information with respect to the plan of distribution not previously disclosed in the registration statement or any material change to such information in the registration statement; </FONT></TD>
    </TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; padding-top: 6pt"><FONT STYLE="font-size: 10pt"><I>provided, however</I>, that paragraphs (a)(1)(i) and (a)(1)(ii) of this section do not apply if the information required to be included in a post-effective amendment by those paragraphs is contained in reports filed with or furnished to the SEC by the registrant pursuant to Section&nbsp;13 or Section&nbsp;15(d) of the Securities Exchange Act of 1934 that are incorporated by reference in the registration statement, or is contained in a form of prospectus filed pursuant to Rule 424(b) that is part of the registration statement.</FONT></TD>
    </TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="width: 5%; padding-top: 6pt">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 5%; padding-top: 6pt"><FONT STYLE="font-size: 10pt">(2)</FONT></TD>
    <TD STYLE="width: 90%; padding-top: 6pt"><FONT STYLE="font-size: 10pt">That, for the purpose of determining any liability under the Securities Act of 1933, each such post-effective amendment shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial <I>bona fide</I> offering thereof. </FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="padding-top: 6pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-top: 6pt"><FONT STYLE="font-size: 10pt">(3)</FONT></TD>
    <TD STYLE="padding-top: 6pt"><FONT STYLE="font-size: 10pt">To remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the termination of the offering. </FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="padding-top: 6pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-top: 6pt"><FONT STYLE="font-size: 10pt">(4)</FONT></TD>
    <TD STYLE="padding-top: 6pt"><FONT STYLE="font-size: 10pt">That, for the purpose of determining liability under the Securities Act of 1933 to any purchaser:</FONT></TD></TR>
</TABLE>





<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="width: 10%; padding-top: 6pt">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 5%; padding-top: 6pt"><FONT STYLE="font-size: 10pt">(i)</FONT></TD>
    <TD STYLE="width: 85%; padding-top: 6pt"><FONT STYLE="font-size: 10pt">each prospectus filed by the registrant pursuant to Rule 424(b)(3) shall be deemed to be part of this registration statement as of the date the filed prospectus was deemed part of and included in this registration statement; and</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="padding-top: 6pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-top: 6pt"><FONT STYLE="font-size: 10pt">(ii)</FONT></TD>
    <TD STYLE="padding-top: 6pt"><FONT STYLE="font-size: 10pt">each prospectus required to be filed pursuant to Rule 424(b)(2), (b)(5), or (b)(7) as part of a registration statement in reliance on Rule 430B relating to an offering made pursuant to Rule 415(a)(1)(i), (vii) or (x) for the purpose of providing the information required by section 10(a) of the Securities Act of 1933 shall be deemed to be part of and included in this registration statement as of the earlier of the date such form of prospectus is first used after effectiveness or the date of the first contract of sale of securities in the offering described in the prospectus. As provided in Rule 430B, for liability purposes of the issuer and any person that is at that date an underwriter, such date shall be deemed to be a new effective date of the registration statement relating to the securities in the registration statement to which that prospectus relates, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof. Provided, however, that no statement made in a registration statement or prospectus that is part of this registration statement or made in a document incorporated or deemed incorporated by reference into this registration statement or prospectus that is part of this registration statement will, as to a purchaser with a time of contract of sale prior to such effective date, supersede or modify any statement that was made in this registration statement or prospectus that was part of this registration statement or made in any such document immediately prior to such effective date.</FONT></TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="width: 5%; padding-top: 6pt">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 5%; padding-top: 6pt"><FONT STYLE="font-size: 10pt">(5)</FONT></TD>
    <TD STYLE="padding-top: 6pt; width: 90%"><FONT STYLE="font-size: 10pt">That, for the purpose of determining liability of the registrant under the Securities Act of 1933 to any purchaser in the initial distribution of the securities, the undersigned registrant undertakes that in a primary offering of securities of the undersigned registrant pursuant to this registration statement, regardless of the underwriting method used to sell the securities to the purchaser, if the securities are offered or sold to such purchaser by means of any of the following communications, the undersigned registrant will be a seller to the purchaser and will be considered to offer or sell such securities to such purchaser:</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="padding-top: 6pt; width: 10%">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-top: 6pt; width: 5%"><FONT STYLE="font-size: 10pt">(i)</FONT></TD>
    <TD STYLE="padding-top: 6pt; width: 85%"><FONT STYLE="font-size: 10pt">any preliminary prospectus or prospectus of the undersigned registrant relating to the offering required to be filed pursuant to Rule 424;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="padding-top: 6pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-top: 6pt"><FONT STYLE="font-size: 10pt">(ii)</FONT></TD>
    <TD STYLE="padding-top: 6pt"><FONT STYLE="font-size: 10pt">any free writing prospectus relating to the offering prepared by or on behalf of the undersigned registrant or used or referred to by the undersigned registrant;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="padding-top: 6pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-top: 6pt"><FONT STYLE="font-size: 10pt">(iii)</FONT></TD>
    <TD STYLE="padding-top: 6pt"><FONT STYLE="font-size: 10pt">the portion of any other free writing prospectus relating to the offering containing material information about the undersigned registrant or its securities provided by or on behalf of the undersigned registrant; and</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="padding-top: 6pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-top: 6pt"><FONT STYLE="font-size: 10pt">(iv)</FONT></TD>
    <TD STYLE="padding-top: 6pt"><FONT STYLE="font-size: 10pt">any other communication that is an offer in the offering made by the undersigned registrant to the purchaser.</FONT></TD></TR>
</TABLE>

<P STYLE="margin: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
 <TD NOWRAP STYLE="padding-top: 6pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-top: 6pt"><FONT STYLE="font-size: 10pt">(b)</FONT></TD>
    <TD STYLE="padding-top: 6pt"><FONT STYLE="font-size: 10pt">The undersigned registrant hereby undertakes that, for purposes of determining any liability under the Securities Act of 1933, each filing of the registrant&rsquo;s annual report pursuant to Section&nbsp;13(a) or Section&nbsp;15(d) of the Securities Exchange Act of 1934 (and, where applicable, each filing of an employee benefit plan&rsquo;s annual report pursuant to Section&nbsp;15(d) of the Securities Exchange Act of 1934) that is incorporated by reference in the registration statement shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial <I>bona fide</I> offering thereof. </FONT></TD></TR>
<TR STYLE="vertical-align: top">
 <TD NOWRAP STYLE="padding-top: 6pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-top: 6pt"><FONT STYLE="font-size: 10pt">(c)</FONT></TD>
    <TD STYLE="padding-top: 6pt"><FONT STYLE="font-size: 10pt">Insofar as indemnification for liabilities arising under the Securities Act of 1933 may be permitted to directors, officers and controlling persons of the registrant pursuant to the foregoing provisions, or otherwise, the registrant has been advised that in the opinion of the Securities and Exchange Commission such indemnification is against public policy as expressed in the Securities Act of 1933 and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the registrant of expenses incurred or paid by a director, officer or controlling person of the registrant in the successful defense of any action, suit or proceeding), is asserted by such director, officer or controlling person in connection with the securities being registered, the registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Securities Act of 1933 and will be governed by the final adjudication of such issue. </FONT></TD></TR>
<TR STYLE="vertical-align: top">
 <TD NOWRAP STYLE="padding-top: 6pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-top: 6pt"><FONT STYLE="font-size: 10pt">(d)</FONT></TD>
    <TD STYLE="padding-top: 6pt"><FONT STYLE="font-size: 10pt">The undersigned registrant hereby undertakes to file an application for the purpose of determining the eligibility of the trustee under either indenture to act under subsection (a) of section 310 of the Trust Indenture Act of 1939 (the &ldquo;Act&rdquo;) in accordance with the rules and regulations prescribed by the Commission under section 305(b)(2) of the Act.</FONT></TD></TR>
<TR>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 90%">&nbsp;</TD>
</TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></DIV>
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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">SIGNATURES</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> Pursuant to the
requirements of the Securities Act, the undersigned registrant certifies that it has reasonable grounds to believe that it meets
all of the requirements for filing on Form S-3 and has duly caused this registration statement to be signed on its behalf by the
undersigned, thereunto duly authorized, in the City of Salt Lake, State of Utah, on November 17, 2017. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; text-indent: 0in"> &nbsp; </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; text-indent: 0in"> &nbsp; </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; text-indent: 0in"> &nbsp; </TD>
    <TD COLSPAN="3" STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; text-indent: 0in"> <FONT STYLE="font-size: 10pt"><B>CLARUS
    CORPORATION</B></FONT> </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 16%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; text-indent: 0in"> &nbsp; </TD>
    <TD STYLE="width: 16%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; text-indent: 0in"> &nbsp; </TD>
    <TD STYLE="width: 16%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; text-indent: 0in"> &nbsp; </TD>
    <TD STYLE="width: 4%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; text-indent: 0in"> &nbsp; </TD>
    <TD STYLE="width: 34%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; text-indent: 0in"> &nbsp; </TD>
    <TD STYLE="width: 14%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; text-indent: 0in"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; text-indent: 0in"> &nbsp; </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; text-indent: 0in"> &nbsp; </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; text-indent: 0in"> &nbsp; </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; text-indent: 0in"> <FONT STYLE="font-size: 10pt">By:</FONT> </TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; text-indent: 0in"> <FONT STYLE="font-size: 10pt"><I>/s/
    Aaron J. Kuehne</I></FONT> </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; text-indent: 0in"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; text-indent: 0in"> &nbsp; </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; text-indent: 0in"> &nbsp; </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; text-indent: 0in"> &nbsp; </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; text-indent: 0in"> &nbsp; </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; text-indent: 0in"> <FONT STYLE="font-size: 10pt">Name:
    Aaron J. Kuehne</FONT> </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; text-indent: 0in"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; text-indent: 0in"> &nbsp; </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; text-indent: 0in"> &nbsp; </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; text-indent: 0in"> &nbsp; </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; text-indent: 0in"> &nbsp; </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; text-indent: 0in"> <FONT STYLE="font-size: 10pt">Title:
    Chief Financial Officer and Chief Administrative Officer</FONT> </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; text-indent: 0in"> &nbsp; </TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> Pursuant to the
requirements of the Securities Act of 1933, as amended, this registration statement has been signed by the following persons in
the capacities indicated on November 17, 2017: </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 22%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> <FONT STYLE="font-size: 10pt"><B>Name</B></FONT> </TD>
    <TD STYLE="width: 2%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> &nbsp; </TD>
    <TD STYLE="width: 76%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> <FONT STYLE="font-size: 10pt"><B>Title</B></FONT> </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> &nbsp; </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> &nbsp; </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> <FONT STYLE="font-size: 10pt"><I>*</I></FONT> </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> &nbsp; </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> <FONT STYLE="font-size: 10pt">Executive Chairman
    and Director (Principal Executive Officer)</FONT> </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> <FONT STYLE="font-size: 10pt">Warren B. Kanders</FONT> </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> &nbsp; </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> &nbsp; </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> &nbsp; </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> &nbsp; </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> &nbsp; </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> <FONT STYLE="font-size: 10pt"><I>*</I></FONT> </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> &nbsp; </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> <FONT STYLE="font-size: 10pt">Chief Financial
    Officer and Chief Administrative Officer (Principal Financial Officer and Principal Accounting Officer)</FONT> </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> <FONT STYLE="font-size: 10pt">Aaron J. Kuehne</FONT> </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> &nbsp; </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> &nbsp; </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> &nbsp; </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> <FONT STYLE="font-size: 10pt"><I>*</I></FONT> </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> &nbsp; </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> <FONT STYLE="font-size: 10pt">Director</FONT> </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> <FONT STYLE="font-size: 10pt">Donald L. House</FONT> </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> &nbsp; </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> &nbsp; </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> &nbsp; </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> <FONT STYLE="font-size: 10pt"><I>*</I></FONT> </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> &nbsp; </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> <FONT STYLE="font-size: 10pt">Director</FONT> </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> <FONT STYLE="font-size: 10pt">Nicholas Sokolow</FONT> </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> &nbsp; </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> &nbsp; </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> &nbsp; </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> <FONT STYLE="font-size: 10pt"><I>*</I></FONT> </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> &nbsp; </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> <FONT STYLE="font-size: 10pt">Director</FONT> </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> <FONT STYLE="font-size: 10pt">Michael A. Henning</FONT> </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> &nbsp; </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> &nbsp; </TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> * By:&#9;<U>/s/ <I>Aaron J. Kuehne</I></U> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">
&#9;Aaron J. Kuehne </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"> &nbsp;Attorney-in-Fact </P>


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    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0pt; text-align: left; margin-bottom: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">SIGNATURES</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in"> Pursuant to the requirements
of the Securities Act, the undersigned registrant certifies that it has reasonable grounds to believe that it meets all of the
requirements for filing on Form S-3 and has duly caused this registration statement to be signed on its behalf by the undersigned,
thereunto duly authorized, in the City of Salt Lake City, State of Utah, on November 17, 2017: </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.5in; text-indent: 0.5in"> <B>EVEREST/SAPPHIRE ACQUISITION,
LLC</B> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3in"> By: <U>/s/ Warren B. Kanders&#9;</U> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3.25in"> Name: Warren B. Kanders<BR>
Title: President </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> <B>&nbsp;</B> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"> <B>&nbsp;</B> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"> Pursuant to the requirements of the
Securities Act of 1933, as amended, this registration statement has been signed by the following persons in the capacities indicated
on November 17, 2017: </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"> &nbsp; </P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 22%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"> <FONT STYLE="font-size: 10pt"><U>Name</U></FONT> </TD>
    <TD STYLE="width: 1%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="width: 77%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"> <FONT STYLE="font-size: 10pt"><U>Title</U></FONT> </TD></TR>
<TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"> &nbsp; </TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"> &nbsp; </TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"> <FONT STYLE="font-size: 10pt">*</FONT> </TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"> &nbsp; </TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"> &nbsp; </TD></TR>
<TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"> <FONT STYLE="font-size: 10pt">Warren B. Kanders</FONT> </TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"> &nbsp; </TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"> <FONT STYLE="font-size: 10pt">President and
    Manager (Principal Executive Officer)</FONT> </TD></TR>
<TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"> &nbsp; </TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"> &nbsp; </TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"> <FONT STYLE="font-size: 10pt">*</FONT> </TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"> &nbsp; </TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"> &nbsp; </TD></TR>
<TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"> <FONT STYLE="font-size: 10pt">Aaron J. Kuehne</FONT> </TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"> &nbsp; </TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"> <FONT STYLE="font-size: 10pt">Manager, Secretary
    and Treasurer (Principal Financial and Accounting Officer)</FONT> </TD></TR>
</TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in"> &nbsp; </P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> * By:&#9;<U>/s/ <I>Aaron J. Kuehne</I></U> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">
&#9;Aaron J. Kuehne </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"> &nbsp;Attorney-in-Fact </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>


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    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0pt; text-align: left; margin-bottom: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">SIGNATURES</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in"> Pursuant to the requirements
of the Securities Act, the undersigned registrant certifies that it has reasonable grounds to believe that it meets all of the
requirements for filing on Form S-3 and has duly caused this registration statement to be signed on its behalf by the undersigned,
thereunto duly authorized, in the City of Salt Lake City, State of Utah, on November 17, 2017: </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.5in; text-indent: 0.5in"><B>BLACK DIAMOND EQUIPMENT, LTD.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3in">By: <U>/s/ John Walbrecht&#9;</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3.25in">Name: John Walbrecht<BR>
Title: President</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"> Pursuant to the requirements of the
Securities Act of 1933, as amended, this registration statement has been signed by the following persons in the capacities indicated
on November 17, 2017: </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 22%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"> <FONT STYLE="font-size: 10pt"><U>Name</U></FONT> </TD>
    <TD STYLE="width: 1%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="width: 77%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"> <FONT STYLE="font-size: 10pt"><U>Title</U></FONT> </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"> &nbsp; </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"> <FONT STYLE="font-size: 10pt">*</FONT> </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"> &nbsp; </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"> <FONT STYLE="font-size: 10pt">Warren B. Kanders</FONT> </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"> &nbsp; </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"> <FONT STYLE="font-size: 10pt">Director</FONT> </TD></TR>
<TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"> &nbsp; </TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"> &nbsp; </TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"> &nbsp; </TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"> <FONT STYLE="font-size: 10pt">*</FONT> </TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"> &nbsp; </TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"> &nbsp; </TD></TR>
<TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"> <FONT STYLE="font-size: 10pt">John Walbrecht</FONT> </TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"> &nbsp; </TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"> <FONT STYLE="font-size: 10pt">President and
    Director (Principal Executive Officer)</FONT> </TD></TR>
<TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"> &nbsp; </TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"> &nbsp; </TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"> &nbsp; </TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"> <FONT STYLE="font-size: 10pt">*</FONT> </TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"> &nbsp; </TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"> &nbsp; </TD></TR>
<TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"> <FONT STYLE="font-size: 10pt">Aaron J. Kuehne</FONT> </TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"> &nbsp; </TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"> <FONT STYLE="font-size: 10pt">Chief Financial
    Officer and Secretary (Principal Financial and Accounting Officer)</FONT> </TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> * By:&#9;<U>/s/ <I>Aaron J. Kuehne</I></U> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">
&#9;Aaron J. Kuehne </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"> &nbsp;Attorney-in-Fact </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>


<!-- Field: Page; Sequence: 29 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0pt; text-align: left; margin-bottom: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">SIGNATURES</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in"> Pursuant to the requirements
of the Securities Act, the undersigned registrant certifies that it has reasonable grounds to believe that it meets all of the
requirements for filing on Form S-3 and has duly caused this registration statement to be signed on its behalf by the undersigned,
thereunto duly authorized, in the City of Salt Lake City, State of Utah, on November 17, 2017: </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.5in; text-indent: 0.5in"><B>BD NORTH AMERICAN HOLDINGS, LLC</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3in">By: <U>/s/ John Walbrecht&#9;</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3.25in">Name: John Walbrecht<BR>
Title: President</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><A NAME="s3_001"></A>POWER OF ATTORNEY</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 9pt 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"> Pursuant to the requirements of the
Securities Act of 1933, as amended, this registration statement has been signed by the following persons in the capacities indicated
on November 17, 2017: </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 22%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"> <FONT STYLE="font-size: 10pt"><U>Name</U></FONT> </TD>
    <TD STYLE="width: 1%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="width: 77%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"> <FONT STYLE="font-size: 10pt"><U>Title</U></FONT> </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"> &nbsp; </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"> <FONT STYLE="font-size: 10pt">*</FONT> </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"> &nbsp; </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"> <FONT STYLE="font-size: 10pt">Warren B. Kanders</FONT> </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"> &nbsp; </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"> <FONT STYLE="font-size: 10pt">Manager</FONT> </TD></TR>
<TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"> &nbsp; </TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"> &nbsp; </TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"> &nbsp; </TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"> <FONT STYLE="font-size: 10pt">*</FONT> </TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"> &nbsp; </TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"> &nbsp; </TD></TR>
<TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"> <FONT STYLE="font-size: 10pt">John Walbrecht</FONT> </TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"> &nbsp; </TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"> <FONT STYLE="font-size: 10pt">President and
    Manager (Principal Executive Officer)</FONT> </TD></TR>
<TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"> &nbsp; </TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"> &nbsp; </TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"> &nbsp; </TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"> <FONT STYLE="font-size: 10pt">*</FONT> </TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"> &nbsp; </TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"> &nbsp; </TD></TR>
<TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"> <FONT STYLE="font-size: 10pt">Aaron J. Kuehne</FONT> </TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"> &nbsp; </TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"> <FONT STYLE="font-size: 10pt">Secretary and
    Treasurer (Principal Financial and Accounting Officer)</FONT> </TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> * By:&#9;<U>/s/ <I>Aaron J. Kuehne</I></U> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">
&#9;Aaron J. Kuehne </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"> &nbsp;Attorney-in-Fact </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>


<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in">&nbsp;</P>


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    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0pt; text-align: left; margin-bottom: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">SIGNATURES</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in"> Pursuant to the requirements
of the Securities Act, the undersigned registrant certifies that it has reasonable grounds to believe that it meets all of the
requirements for filing on Form S-3 and has duly caused this registration statement to be signed on its behalf by the undersigned,
thereunto duly authorized, in the City of Salt Lake City, State of Utah, on November 17, 2017: </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.5in; text-indent: 0.5in"><B>BLACK DIAMOND RETAIL, INC.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3in">By: <U>/s/ John Walbrecht&#9;</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3.25in">Name: John Walbrecht<BR>
Title: President and Chief Executive Officer</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>POWER OF ATTORNEY</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"> Pursuant to the requirements of the
Securities Act of 1933, as amended, this registration statement has been signed by the following persons in the capacities indicated
on November 17, 2017: </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 22%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"> <FONT STYLE="font-size: 10pt"><U>Name</U></FONT> </TD>
    <TD STYLE="width: 1%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="width: 77%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"> <FONT STYLE="font-size: 10pt"><U>Title</U></FONT> </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"> &nbsp; </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"> <FONT STYLE="font-size: 10pt">*</FONT> </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"> &nbsp; </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"> <FONT STYLE="font-size: 10pt">Warren B. Kanders</FONT> </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"> &nbsp; </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"> <FONT STYLE="font-size: 10pt">Director</FONT> </TD></TR>
<TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"> &nbsp; </TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"> &nbsp; </TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"> &nbsp; </TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"> <FONT STYLE="font-size: 10pt">*</FONT> </TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"> &nbsp; </TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"> &nbsp; </TD></TR>
<TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"> <FONT STYLE="font-size: 10pt">John Walbrecht</FONT> </TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"> &nbsp; </TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"> <FONT STYLE="font-size: 10pt">President, Chief
    Executive Officer and Director (Principal Executive Officer)</FONT> </TD></TR>
<TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"> &nbsp; </TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"> &nbsp; </TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"> &nbsp; </TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"> <FONT STYLE="font-size: 10pt">*</FONT> </TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"> &nbsp; </TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"> &nbsp; </TD></TR>
<TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"> <FONT STYLE="font-size: 10pt">Aaron J. Kuehne</FONT> </TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"> &nbsp; </TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"> <FONT STYLE="font-size: 10pt">Chief Financial
    Officer and Secretary (Principal Financial and Accounting Officer)</FONT> </TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> * By:&#9;<U>/s/ <I>Aaron J. Kuehne</I></U> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"> &#9;Aaron J. Kuehne </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"> &nbsp;Attorney-in-Fact </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">SIGNATURES</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in"> Pursuant to the requirements
of the Securities Act, the undersigned registrant certifies that it has reasonable grounds to believe that it meets all of the
requirements for filing on Form S-3 and has duly caused this registration statement to be signed on its behalf by the undersigned,
thereunto duly authorized, in the City of Salt Lake City, State of Utah, on November 17, 2017: </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.5in; text-indent: 0.5in"><B>BD EUROPEAN HOLDINGS, LLC</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3in">By: <U>/s/ John Walbrecht&#9;</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3.25in">Name: John Walbrecht<BR>
Title: President</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>POWER OF ATTORNEY</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 9pt 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"> Pursuant to the requirements of the
Securities Act of 1933, as amended, this registration statement has been signed by the following persons in the capacities indicated
on November 17, 2017: </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 22%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"> <FONT STYLE="font-size: 10pt"><U>Name</U></FONT> </TD>
    <TD STYLE="width: 1%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="width: 77%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"> <FONT STYLE="font-size: 10pt"><U>Title</U></FONT> </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"> &nbsp; </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"> <FONT STYLE="font-size: 10pt">*</FONT> </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"> &nbsp; </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"> <FONT STYLE="font-size: 10pt">Warren B. Kanders</FONT> </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"> &nbsp; </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"> <FONT STYLE="font-size: 10pt">Manager</FONT> </TD></TR>
<TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"> &nbsp; </TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"> &nbsp; </TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"> &nbsp; </TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"> <FONT STYLE="font-size: 10pt">*</FONT> </TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"> &nbsp; </TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"> &nbsp; </TD></TR>
<TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"> <FONT STYLE="font-size: 10pt">John Walbrecht</FONT> </TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"> &nbsp; </TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"> <FONT STYLE="font-size: 10pt">President and
    Manager (Principal Executive Officer)</FONT> </TD></TR>
<TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"> &nbsp; </TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"> &nbsp; </TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"> &nbsp; </TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"> <FONT STYLE="font-size: 10pt">*</FONT> </TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"> &nbsp; </TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"> &nbsp; </TD></TR>
<TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"> <FONT STYLE="font-size: 10pt">Aaron J. Kuehne</FONT> </TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"> &nbsp; </TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"> <FONT STYLE="font-size: 10pt">Secretary and
    Treasurer (Principal Financial and Accounting Officer)</FONT> </TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"> &nbsp; </P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> * By:&#9;<U>/s/ <I>Aaron J. Kuehne</I></U> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">
&#9;Aaron J. Kuehne </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"> &nbsp;Attorney-in-Fact </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"> &nbsp; </P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<!-- Field: Page; Sequence: 32 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0pt; text-align: left; margin-bottom: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">SIGNATURES</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in"> Pursuant to the requirements
of the Securities Act, the undersigned registrant certifies that it has reasonable grounds to believe that it meets all of the
requirements for filing on Form S-3 and has duly caused this registration statement to be signed on its behalf by the undersigned,
thereunto duly authorized, in the City of Sedalia, State of Missouri, on November 17, 2017: </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.5in; text-indent: 0.5in"> <B>SIERRA BULLETS, L.L.C</B> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3in"> By: <U>/s/ Warren B. Kanders&#9;</U> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3.25in"> Name: Warren B. Kanders<BR>
Title: Chief Executive Officer </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> <B>&nbsp;</B> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"> <B>&nbsp;</B> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"> <B>POWER OF ATTORNEY</B> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 9pt 0pt 0; text-align: center"> <B>&nbsp;</B> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"> Each of the undersigned officers and
directors of Sierra Bullets, L.L.C. hereby severally constitutes and appoints Warren B. Kanders and Aaron J. Kuehne as the attorney-in-fact
for the undersigned, in any and all capacities, with full power of substitution, to sign any and all pre- or post-effective amendments
to this registration statement, any subsequent registration statement for the same offering which may be filed pursuant to Rule
462(b) under the Securities Act of 1933, as amended, and any and all pre- or post-effective amendments thereto, and to file the
same with exhibits thereto and other documents in connection therewith, with the Securities and Exchange Commission, granting
unto said attorney-in-fact full power and authority to do and perform each and every act and thing requisite and necessary to
be done in and about the premises, as fully to all intents and purposes as he might or could do in person, hereby ratifying and
confirming all that said attorney-in-fact may lawfully do or cause to be done by virtue hereof. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"> Pursuant to the requirements of the
Securities Act of 1933, as amended, this registration statement has been signed by the following persons in the capacities indicated
on November 17, 2017: </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> &nbsp; </P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 22%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"> <FONT STYLE="font-size: 10pt"><U>Name</U></FONT> </TD>
    <TD STYLE="width: 1%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="width: 77%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"> <FONT STYLE="font-size: 10pt"><U>Title</U></FONT> </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"> &nbsp; </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"> <FONT STYLE="font-size: 10pt">/s/
    Warren B. Kanders</FONT> </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"> &nbsp; </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"> <FONT STYLE="font-size: 10pt">Warren B. Kanders</FONT> </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"> &nbsp; </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"> <FONT STYLE="font-size: 10pt">Manager and Chief Executive Officer
    Principal Executive Officer)</FONT> </TD></TR>
<TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"> &nbsp; </TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"> &nbsp; </TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"> &nbsp; </TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"> <FONT STYLE="font-size: 10pt">/s/
    Patrick Daly</FONT> </TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"> &nbsp; </TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"> &nbsp; </TD></TR>
<TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"> <FONT STYLE="font-size: 10pt">Patrick Daly</FONT> </TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"> &nbsp; </TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"> <FONT STYLE="font-size: 10pt">President and
    Manager </FONT> </TD></TR>
<TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"> &nbsp; </TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"> &nbsp; </TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"> &nbsp; </TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"> <FONT STYLE="font-size: 10pt">/s/
    Aaron J. Kuehne</FONT> </TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"> &nbsp; </TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"> &nbsp; </TD></TR>
<TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"> <FONT STYLE="font-size: 10pt">Aaron J. Kuehne</FONT> </TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"> &nbsp; </TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"> <FONT STYLE="font-size: 10pt">Manager and Secretary
    (Principal Financial and Accounting Officer)</FONT> </TD></TR>
</TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"> &nbsp; </P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></DIV>
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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">SIGNATURES</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in"> Pursuant to the requirements
of the Securities Act, the undersigned registrant certifies that it has reasonable grounds to believe that it meets all of the
requirements for filing on Form S-3 and has duly caused this registration statement to be signed on its behalf by the undersigned,
thereunto duly authorized, in the City of Salt Lake City, State of Utah, on November 17, 2017: </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.5in; text-indent: 0.5in"> <B>PIEPS SERVICE, LLC</B> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3in"> By: <U>/s/ John Walbrecht&#9;</U> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3.25in"> Name: John Walbrecht<BR>
Title: President </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> <B>&nbsp;</B> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"> <B>&nbsp;</B> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"> Pursuant to the requirements of the
Securities Act of 1933, as amended, this registration statement has been signed by the following persons in the capacities indicated
on November 17, 2017: </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> &nbsp; </P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 22%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"> <FONT STYLE="font-size: 10pt"><U>Name</U></FONT> </TD>
    <TD STYLE="width: 1%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="width: 77%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"> <FONT STYLE="font-size: 10pt"><U>Title</U></FONT> </TD></TR>
<TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"> &nbsp; </TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"> &nbsp; </TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"> <FONT STYLE="font-size: 10pt">*</FONT> </TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"> &nbsp; </TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"> &nbsp; </TD></TR>
<TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"> <FONT STYLE="font-size: 10pt">John Walbrecht</FONT> </TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"> &nbsp; </TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"> <FONT STYLE="font-size: 10pt">President and
    Manager (Principal Executive Officer)</FONT> </TD></TR>
<TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"> &nbsp; </TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"> &nbsp; </TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"> <FONT STYLE="font-size: 10pt">*</FONT> </TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"> &nbsp; </TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"> &nbsp; </TD></TR>
<TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"> <FONT STYLE="font-size: 10pt">Aaron J. Kuehne</FONT> </TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"> &nbsp; </TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"> <FONT STYLE="font-size: 10pt">Secretary, Treasurer&nbsp;&nbsp;and
    Manger (Principal Financial and Accounting Officer)</FONT> </TD></TR>
</TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"> &nbsp; </P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> * By:&#9;<U>/s/ <I>Aaron J. Kuehne</I></U> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">
&#9;Aaron J. Kuehne </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"> &nbsp;Attorney-in-Fact </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>


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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">EXHIBIT INDEX</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 12%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> <FONT STYLE="font-size: 10pt"><U>Exhibit</U></FONT> </TD>
    <TD STYLE="width: 88%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> <FONT STYLE="font-size: 10pt"><U>Description</U></FONT> </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"> &nbsp; </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> &nbsp; </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> <A HREF="tv479755_ex5-1.htm"><FONT STYLE="font-size: 10pt">5.1</FONT></A> </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> <A HREF="tv479755_ex5-1.htm"><FONT STYLE="font-size: 10pt">Opinion of Kane
    Kessler, P.C. (1)</FONT></A> </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> &nbsp; </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> <FONT STYLE="font-size: 10pt"><A HREF="tv479755_ex12-1.htm">12.1</A></FONT> </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"> <FONT STYLE="font-size: 10pt"><A HREF="tv479755_ex12-1.htm">Statement re:&nbsp;&nbsp;Computation of Ratio of Earnings to Fixed Charges. (1)</A></FONT> </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> &nbsp; </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> <FONT STYLE="font-size: 10pt"><A HREF="tv479755_ex23-1.htm">23.1</A></FONT> </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"> <FONT STYLE="font-size: 10pt"><A HREF="tv479755_ex23-1.htm">Consent of Independent Registered Public Accounting Firm. (1)</A></FONT> </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> &nbsp; </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> <FONT STYLE="font-size: 10pt"><A HREF="tv479755_ex23-2.htm">23.2</A></FONT> </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"> <FONT STYLE="font-size: 10pt"><A HREF="tv479755_ex23-2.htm">Consent of Independent Auditor. (1)</A></FONT> </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> &nbsp; </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> <A HREF="tv479755_ex5-1.htm"><FONT STYLE="font-size: 10pt">23.3</FONT></A> </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"> <A HREF="tv479755_ex5-1.htm"><FONT STYLE="font-size: 10pt">Consent of Kane Kessler, P.C. (Included
    in Exhibit 5.1). (1)</FONT></A> </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> &nbsp; </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> &nbsp; </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"> &nbsp; </TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">__________________________</P>

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<TD STYLE="width: 4.5pt"></TD><TD STYLE="width: 28.5pt">(1)</TD><TD STYLE="text-align: justify">Filed herewith.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 4.5pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 4.5pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 4.5pt; text-align: justify">&nbsp;</P>


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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-5.1
<SEQUENCE>2
<FILENAME>tv479755_ex5-1.htm
<DESCRIPTION>OPINION OF KANE KESSLER, P.C.
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
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<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B><U>Exhibit 5.1</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>&nbsp;</B></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">[Letterhead of Kane Kessler, P.C.]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 6in">November 17, 2017</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Clarus Corporation</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">2084 East 3900 South</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Salt Lake, UT 84124</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>Re:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Registration
Statement on Form S-3 of Clarus Corporation</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Ladies and Gentlemen:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We have acted as special
counsel to Clarus Corporation, a Delaware corporation (the &#8220;<U>Company</U>&#8221;), and the Subsidiary Guarantors (as defined
below), in connection with the preparation and filing of a registration statement on Form S-3 (the &#8220;<U>Registration Statement</U>&#8221;)
with the Securities and Exchange Commission (the &#8220;<U>Commission</U>&#8221;) under the Securities Act of 1933, as amended
(the &#8220;<U>Securities Act</U>&#8221;), relating to (i) shares of common stock of the Company, par value $0.0001 per share (the
&#8220;<U>Common Shares</U>&#8221;); (ii) shares of preferred stock of the Company, par value $0.0001 per share (the &#8220;<U>Preferred
Shares</U>&#8221;); (iii) debt securities of the Company (the &#8220;<U>Debt Securities</U>&#8221;); (iv) warrants of the Company
(the &#8220;<U>Warrants</U>&#8221;); (v) Rights (as defined below) and (iv) guarantees (each, a &#8220;<U>Subsidiary Guarantee</U>&#8221;)
by certain of the Company&#8217;s subsidiaries (the &#8220;<U>Subsidiary Guarantors</U>&#8221;). The Common Shares, Preferred Shares,
Debt Securities, Rights and Warrants may be issued and sold or delivered from time to time as set forth in the Registration Statement,
and amendment thereto, the prospectus contained therein (the &#8220;<U>Prospectus</U>&#8221;) and supplements to the Prospectus
(the &#8220;<U>Prospectus Supplements</U>&#8221;) and pursuant to Rule 415 of the General Rules and Regulations promulgated under
the Securities Act (the &#8220;<U>Securities Act Rules</U>&#8221;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Each share of Common
Stock will be accompanied by, if issued prior to the termination of or such earlier event as specified in the Plan (as hereinafter
defined), a right (each, a &#8220;<U>Right</U>&#8221; and collectively, the &#8220;<U>Rights</U>&#8221;) to purchase under certain
circumstances, from the Company, one one-hundredth of a share of the Company&#8217;s series a junior participating preferred stock,
par value $0.0001 per share (the &#8220;Series A Junior Participating Preferred Stock&#8221;), pursuant to a Rights Agreement,
dated as of February 12, 2008 (the &#8220;<U>Plan</U>&#8221;), between the Company and American Stock Transfer &amp;Trust Company,
LLC, as Rights Agent (the &#8220;<U>Rights Agent</U>&#8221;) for which no separate consideration will be received. The Rights associated
with the shares of Common Stock initially will trade together with the shares of Common Stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Debt Securities
will be issued in one or more series pursuant to an indenture (as amended or supplemented from time to time, the &#8220;<U>Indenture</U>&#8221;)
to be entered into among the Company and a trustee to be named therein (the &#8220;Trustee&#8221;), and any Subsidiary Guarantors,
as applicable.</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In our capacity as
special counsel to the Company in connection with the matters referred to above, we have examined copies of the following: (i)
the Amended and Restated Certificate of Incorporation of the Company, including the Certificate of Designation of the Series A
Junior Participating Preferred Stock, as amended to date and currently in effect (the &#8220;<U>Amended and Restated Certificate</U>&#8221;),
(ii) the Amended and Restated By-laws of the Company currently in effect (the &#8220;<U>By-laws</U>&#8221;), and certain records
of the Company&#8217;s and Subsidiary Guarantors&#8217; corporate proceedings as reflected in respective minute books; (iii) the
Plan; and (iv) the Registration Statement, in the form it is to be filed with the Commission on the date hereof. We have also examined
such other documents, papers, authorities and statutes as we have deemed necessary to form the basis of the opinions hereinafter
set forth.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In our
examination, we have assumed the legal capacity of all natural persons, the genuineness of all signatures, the authenticity
of all documents submitted to us as originals, the conformity to original documents of all documents submitted to us as
certified or photostatic copies, and the authenticity of the originals of such documents. As to certain facts material to
this opinion, we have relied upon oral or written statements and representations of officers and other representatives of the
Company and the Subsidiary Guarantors including that the number of Common Shares, Rights, and Preferred Shares, as the case
may be, which the Company is authorized to issue in its Amended and Restated Certificate exceeds the sum of (i) the number of
Common Shares, Rights or the number of Preferred Shares outstanding, as the case may be, (ii) the number of Common Shares,
Rights or Preferred Shares, as the case may be, held as treasury shares, and (iii) the number of Common Shares, Rights or
Preferred Shares, as the case may be, which the Company is obligated to issue (or has otherwise reserved for issuance for any
purpose) and we have assumed for purposes of our opinion herein that such condition will remain true at all future times
relevant to this opinion. We have also relied on certificates of public officials, and such other documents and information
as we have deemed necessary or appropriate to enable us to render the opinions expressed below. We have not undertaken any
independent investigation to determine the accuracy of any such facts.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We have assumed for
purposes of this opinion that (i) the Trustee is duly organized, validly existing and in good standing under the laws of its jurisdiction
of organization; (ii) the Indenture and any supplemental indentures thereto will be duly authorized, executed and delivered by
the Trustee and constitutes a legally valid and binding obligation of the Trustee, enforceable against the Trustee in accordance
with its terms; (iii) the Trustee and the Rights Agent, as the case may be, are duly qualified to engage in the activities contemplated
by the Indenture or the Plan, as the case may be; (iv) the Trustee and the Rights Agent, as the case may be, have the requisite
organizational and legal power and authority to perform their respective obligations under the Indenture or the Plan, as the case
may be; (v) the Trustee is qualified under the Trust Indenture Act of 1939, as amended, and a Form T-1 will be properly filed as
an exhibit to the Registration Statement; and (vi) any Debt Securities that may be issued will be manually signed or countersigned,
as the case may be, by duly authorized officers of the Trustee. In addition, we have also assumed that the terms of the Offered
Debt Securities (as defined below), Offered Subsidiary Guarantees (as defined below) and the Rights will have been established
so as not to violate, conflict with or constitute a default under (i) any agreement or instrument to which the Company or the Subsidiary
Guarantors or their properties are subject, (ii) any law, rule or regulation to which the Company or the
Subsidiary Guarantors are subject, (iii) any judicial or regulatory order or decree of any governmental authority or (iv) any consent,
approval, license, authorization or validation of, or filing, recording or registration with any governmental authority.</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We have assumed further
that (i) each of the Subsidiary Guarantors has duly authorized, executed and delivered the Indenture in accordance with the law
of the jurisdiction in which it was organized, (ii) execution, delivery and performance by each of the Subsidiary Guarantors of
the Indenture and the Subsidiary Guarantees do not and will not violate the certificate of incorporation, certificate of formation,
by-laws, limited liability company agreement, as the case may be, of the Subsidiary Guarantors or the law of the jurisdiction in
which each such Subsidiary Guarantor was organized or any other applicable law (excepting the law of the State of New York and
the federal laws of the United States) and (iii) the execution, delivery and performance by the Company and each Subsidiary Guarantor
of the Indenture, the Debt Securities and the Subsidiary Guarantees, as the case may be, do not breach or result in a default under
any indenture, mortgage, deed of trust, loan agreement or other agreement or instrument to which the Company or any of its subsidiaries
is a party or by which the Company or any of its subsidiaries is bound or to which any of the property or assets of the Company
or any of its subsidiaries is subject.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We have also assumed
that (i) at the time of issuance and delivery of the Rights, the Plan will be the valid and legally binding obligation of the Rights
Agent, (ii) the Rights Agent is validly existing under the law of the jurisdiction in which it is organized and (iii) at the time
of issuance and delivery of the Rights, there are a sufficient number of Rights and shares of Series A Junior Preferred Stock authorized
under the Plan and the Amended and Restated Certificate of Incorporation, as the case may be, and the Plan and are not otherwise
reserved for issuance.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Based upon and subject
to the foregoing and the other qualifications, assumptions and limitations set forth herein, we are of the opinion that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">1. <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>With
respect to any Common Shares to be offered to the public pursuant to the Registration Statement (the &#8220;<U>Offered Common
Shares</U>&#8221;), assuming (i) the Registration Statement, as finally amended (including all necessary post-effective amendments),
has become effective under the Securities Act; (ii) an appropriate Prospectus Supplement with respect to the Offered Common Shares
has been prepared, delivered and filed in compliance with the Securities Act and the applicable Securities Act Rules; (iii) if
the Offered Common Shares are to be sold pursuant to a firm commitment underwritten offering, the underwriting agreement with
respect to the Offered Common Shares has been duly authorized, executed and delivered by the Company and the other parties thereto;
(iv) the Board of Directors of the Company, including any appropriate committee appointed thereby, and appropriate officers of
the Company have taken all necessary corporate action to approve the issuance of the Offered Common Shares and the Rights and
related matters; (v) the issuance and sale of the Offered Common Shares and the Rights do not violate any applicable law or the
Amended and Restated Certificate or the By-Laws or result in a default under or breach of any agreement or instrument binding
upon the Company and comply with any requirement or restriction imposed by any court or governmental body having jurisdiction
over the Company; and (vi) the due issuance and delivery of the</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Offered Common Shares and the Rights, upon
payment of adequate consideration therefor (not less than the par value of the Offered Common Shares) in accordance with the Registration
Statement and Prospectus Supplement and, if applicable, a definitive underwriting agreement is approved by the Board of Directors
of the Company, the Offered Common Shares, when issued, will be validly issued, fully paid and non-assessable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">2. <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;With
respect to any series of Preferred Shares to be offered to the public pursuant to the Registration Statement (the &#8220;<U>Offered
Preferred Shares</U>&#8221;), assuming (i) the Registration Statement, as finally amended (including all necessary post-effective
amendments), has become effective under the Securities Act; (ii) an appropriate Prospectus Supplement with respect to the Offered
Preferred Shares has been prepared, delivered and filed in compliance with the Securities Act and the applicable Securities Act
Rules; (iii) if the Offered Preferred Shares are to be sold pursuant to a firm commitment underwritten offering, the underwriting
agreement with respect to the Offered Preferred Shares has been duly authorized, executed and delivered by the Company and the
other parties thereto; (iv) the Board of Directors of the Company, including any appropriate committee appointed thereby, and
appropriate officers of the Company have taken all necessary corporate action to approve the issuance of the Offered Preferred
Shares and related matters; (v) a certificate of designation with respect to the Offered Preferred Shares has been properly filed
with the Secretary of State of the State of Delaware; (vi) the issuance and sale of the Offered Preferred Shares does not violate
any applicable law or the Amended and Restated Certificate or the By-Laws or result in a default under or breach of any agreement
or instrument binding upon the Company and comply with any requirement or restriction imposed by any court or governmental body
having jurisdiction over the Company; and (vii) the due issuance and delivery of the Offered Preferred Shares, upon payment of
adequate consideration therefore (not less than the par value of the Offered Preferred Shares) in accordance with the Registration
Statement and Prospectus Supplement and, if applicable, a definitive underwriting agreement is approved by the Board of Directors
of the Company, the Offered Preferred Shares, when issued, will be validly issued, fully paid and non-assessable.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">3. <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>With
respect to any series of Debt Securities to be offered to the public pursuant to the Registration Statement (the &#8220;<U>Offered
Debt Securities</U>&#8221;), assuming (i) the Registration Statement, as finally amended (including all necessary post-effective
amendments), has become effective under the Securities Act and the applicable Indenture has been qualified under the Trust Indenture
Act of 1939, as amended; (ii) an appropriate Prospectus Supplement or term sheet with respect to the Offered Debt Securities has
been prepared, delivered and filed in compliance with the Securities Act and the applicable Securities Act Rules; (iii) if the
Offered Debt Securities are to be sold pursuant to a firm commitment underwritten offering, the underwriting agreement with respect
to the Offered Debt Securities has been duly authorized, executed and delivered by the Company and the other parties thereto;
(iv) the Board of Directors, including any appropriate committee appointed thereby, and appropriate officers of the Company have
taken all necessary corporate action to approve the issuance and terms of the Offered Debt Securities and related matters; (v)
each Indenture and any supplemental indenture in respect of such Offered Debt Securities provides that it shall be governed by
New York law, that courts other than New York courts will give effect to such choice of law, and shall have been duly authorized,
executed and delivered by each party thereto; (vi) the terms of the Offered Debt Securities and of their issuance and sale have
been duly established in conformity with the applicable Indenture and any</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">supplemental indenture to be entered into
in connection with the issuance of such Offered Debt Securities so as not to violate any applicable law, the Amended and Restated
Certificate or By-laws or result in a default under or breach of any agreement or instrument binding upon the Company and so as
to comply with any requirement or restriction imposed by any court or governmental body having jurisdiction over the Company; and
(vii) the Offered Debt Securities have been duly executed and authenticated in accordance with the provisions of the applicable
Indenture and any supplemental indenture to be entered into in connection with the issuance of such Offered Debt Securities and
duly delivered to the purchasers thereof upon payment of the agreed-upon consideration therefor, the Offered Debt Securities, when
issued and sold in accordance with the applicable Indenture, any supplemental indenture to be entered into in connection with the
issuance of such Offered Debt Securities and the applicable underwriting agreement, if any, or any other duly authorized, executed
and delivered valid and binding purchase or agency agreement, will be valid and binding obligations of the Company, except to the
extent that enforcement thereof may be limited by (a) bankruptcy, insolvency, reorganization, fraudulent conveyance, moratorium
or other similar laws now or hereafter in effect relating to creditors&#8217; rights generally, (b) general principles of equity
(regardless of whether enforceability is considered in a proceeding at law or in equity), (c) an implied covenant of good faith
and fair dealing, (d) public policy considerations which may limit the rights of parties to obtain remedies, (e) the waivers of
any usury defense contained in the Indentures which may be unenforceable, (f) requirements that a claim with respect to any Offered
Debt Securities denominated in a currency, currency unit or composite currency other than United States dollars (or a judgment
denominated other than in United States dollars in respect of such claim) be converted into United States dollars at a rate of
exchange prevailing on a date determined pursuant to applicable law, and (g) governmental authority to limit, delay or prohibit
the making of payments outside the United States or in foreign currencies, currency units or composite currencies.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">4. <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>With respect to any Warrants to be offered to the public pursuant to the Registration Statement (the &#8220;<U>Offered Warrants</U>&#8221;),
assuming (i) the Registration Statement, as finally amended (including all necessary post-effective amendments), has become effective
under the Securities Act; (ii) an appropriate Prospectus Supplement with respect to the Offered Warrants has been prepared, delivered
and filed in compliance with the Securities Act and the applicable Securities Act Rules; (iii) if the Offered Warrants are to be
sold pursuant to a firm commitment underwritten offering, the underwriting agreement with respect to the Offered Warrants has been
duly authorized, executed and delivered by the Company and the other parties thereto; (iv) the Board of Directors of the Company,
including any appropriate committee appointed thereby, and appropriate officers of the Company have taken all necessary corporate
action to approve the issuance of the Offered Warrants and related matters; (v) the issuance and sale of the Offered Warrants does
not violate any applicable law or the Amended and Restated Certificate or the By-Laws or result in a default under or breach of
any agreement or instrument binding upon the Company and comply with any requirement or restriction imposed by any court or governmental
body having jurisdiction over the Company; (vi) the Common Shares or the Preferred Shares relating to such Offered Warrants have
been duly authorized for issuance; (vii) the applicable Warrant Agreement has been duly authorized, executed and delivered by each
party thereto, and (viii) the Offered Warrants have been duly executed, delivered, countersigned, issued and sold in accordance
with the provisions of the applicable Warrant Agreement in the manner contemplated in the Registration Statement or any prospectus
supplement relating</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">thereto, the Offered Warrants, when issued
and sold in accordance with the applicable Warrant Agreement and the applicable purchase agreement or any other duly authorized,
executed and delivered valid and binding purchase or agency agreement, will be valid and binding obligations of the Company, enforceable
against the Company in accordance with their respective terms, except to the extent that enforcement thereof may be limited by
(a) bankruptcy, insolvency, reorganization, fraudulent conveyance, moratorium or other similar laws now or hereafter in effect
relating creditors&#8217; rights generally, (b) general principles of equity (regardless of whether enforceability is considered
in a proceeding at law or in equity), (c) an implied covenant of good faith and fair dealing and (d) public policy considerations
which may limit the rights of parties to obtain remedies.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">5. <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>With
respect to any Subsidiary Guarantee of Offered Debt Securities offered by any Subsidiary Guarantor pursuant to the Registration
Statement (the &#8220;<U>Offered Subsidiary Guarantee</U>&#8221;), assuming (i) the Registration Statement, as finally amended
(including all necessary post-effective amendments), has become effective under the Act and the applicable Indenture has been
qualified under the Trust Indenture Act of 1939, as amended; (ii) an appropriate Prospectus Supplement or term sheet with respect
to the Offered Subsidiary Guarantee has been prepared, delivered and filed in compliance with the Securities Act and the applicable
Securities Act Rules; (iii) if the Offered Subsidiary Guarantee is to be issued pursuant to a firm commitment underwritten offering,
the underwriting agreement with respect to the Offered Subsidiary Guarantee has been duly authorized, executed and delivered by
such Subsidiary Guarantor and the other parties thereto; (iv) all necessary corporate action, including any required action by
such Subsidiary Guarantor&#8217;s board of directors, sole member or managers, as applicable, or any authorized committee thereof,
or other action has been taken by such Subsidiary Guarantor to approve the issuance and terms of the Offered Subsidiary Guarantee
and related matters; (v) each Indenture and any supplemental indenture in respect of such Offered Subsidiary Guarantee provides
that it shall be governed by New York law, that courts other than New York courts will give effect to such choice of law, and
shall have been duly authorized, executed and delivered by each party thereto; (vi) the terms of the Offered Subsidiary Guarantee
and of its issuance and sale have been duly established in conformity with the applicable Indenture and any supplemental indenture
to be entered into in connection with the issuance of such Offered Subsidiary Guarantee so as not to violate any applicable law
or the organizational or governing documents of such Subsidiary Guarantor or result in a default under or breach of any agreement
or instrument binding upon such Subsidiary Guarantor and so as to comply with any requirement or restriction imposed by any court
or governmental body having jurisdiction over such Subsidiary Guarantor; and (vii) the Offered Subsidiary Guarantee has been duly
executed, delivered in accordance with the provisions of the applicable Indenture and any supplemental indenture to be entered
into in connection with the issuance of such Offered Subsidiary Guarantee and duly issued in accordance with the applicable Indenture,
any supplemental indenture to be entered into in connection with the issuance of such Offered Subsidiary Guarantee and the applicable
underwriting agreement, if any, or any other duly authorized, executed and delivered valid and binding purchase or agency agreement,
such Offered Subsidiary Guarantee, when issued and sold in accordance with the applicable Indenture, any supplemental indenture
to be entered into in connection with the issuance of such Offered Subsidiary Guarantee, and the applicable underwriting agreement,
if any, or any other duly authorized, executed and delivered valid and binding purchase or agency agreement, will be</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">valid and binding obligations of such Subsidiary
Guarantor, except to the extent that enforcement thereof may be limited by (a) bankruptcy, insolvency, reorganization, fraudulent
conveyance, moratorium or other similar laws now or hereafter in effect relating to creditors&#8217; rights generally, (b) general
principles of equity (regardless of whether enforceability is considered in a proceeding at law or in equity), (c) an implied covenant
of good faith and fair dealing, (d) public policy considerations which may limit the rights of parties to obtain remedies, (e)
the waivers of any usury defense contained in the Indentures which may be unenforceable, (f) requirements that a claim with respect
to any Offered Subsidiary Guarantee denominated in a currency, currency unit or composite currency other than United States dollars
(or a judgment denominated other than in United States dollars in respect of such claim) be converted into United States dollars
at a rate of exchange prevailing on a date determined pursuant to applicable law, and (g) governmental authority to limit, delay
or prohibit the making of payments outside the United States or in foreign currencies, currency units or composite currencies.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">6. <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>With
respect to the Rights, when (A) all actions and conditions with respect to the Common Stock referred to in opinion paragraph number
1 above have been taken or satisfied; and (B) if and when separated from the Common Stock, the Rights have been duly executed,
countersigned or authenticated by the Rights Agent, registered and delivered, the Rights attached to the Common Shares in accordance
with the Plan will constitute the valid and legally binding obligations of the Company, enforceable against the Company in accordance
with their terms, except to the extent that enforcement thereof may be limited by (a) bankruptcy, insolvency, reorganization,
fraudulent conveyance, moratorium or other similar laws now or hereafter in effect relating creditors&#8217; rights generally,
(b) general principles of equity (regardless of whether enforceability is considered in a proceeding at law or in equity), (c)
an implied covenant of good faith and fair dealing, and (d) public policy considerations which may limit the rights of parties
to obtain remedies. In addition, in our opinion with respect to the Rights and the Plan, (i) we express no opinion as to any determination
a court of competent jurisdiction may make regarding whether the Board of Directors would be required to redeem or terminate,
or take other action with respect to, the Rights at some future time based on the facts and circumstances existing at that time,
(ii) we have assumed that the members of the Board of Directors acted in a manner consistent with their fiduciary duties as required
under applicable law in adopting the Plan, and (iii) we address the Rights and the Plan in their entirety, and it is not settled
whether the invalidity of any particular provision of the Plan or of the Rights issued thereunder would result in invalidating
such Plan or Rights in their entirety.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We express no opinion
as to the validity, legally binding effect or enforceability of any provision of the Indenture, any supplemental indenture, or
the Offered Debt Securities that requires or relates to payment of any interest at a rate or in an amount that a court would determine
in the circumstances under applicable law to be commercially unreasonable or a penalty or a forfeiture. In addition, we express
no opinion as to the validity, legally binding effect or enforceability of (i) the waiver of rights and defenses contained in the
Indenture, Offered Debt Securities, the Plan or the Rights or (ii) provisions of the Indenture, Offered Debt Securities, the Plan
or the Rights relating to severability.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5in; text-align: justify">KANE KESSLER, P.C.</P>

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<DOCUMENT>
<TYPE>EX-12.1
<SEQUENCE>3
<FILENAME>tv479755_ex12-1.htm
<DESCRIPTION>STATEMENT RE: COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
<TEXT>
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     <TITLE></TITLE>
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<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B><U>Exhibit 12.1</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Nine Months</B></P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Ending September 30, 2017</B></P></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2016</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2015</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2014</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2013</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2012</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="5" STYLE="font-size: 10pt">(in thousands except ratios)</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; font-weight: bold">Earnings:</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 28%; font-size: 10pt; text-align: left">(Loss) income before income tax</TD><TD STYLE="width: 2%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 8%; font-size: 10pt; text-align: right">(5,702</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">)</TD><TD STYLE="width: 2%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 8%; font-size: 10pt; text-align: right">(8,313</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">)</TD><TD STYLE="width: 2%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 8%; font-size: 10pt; text-align: right">(40,414</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">)</TD><TD STYLE="width: 2%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 8%; font-size: 10pt; text-align: right">(13,436</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">)</TD><TD STYLE="width: 2%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 8%; font-size: 10pt; text-align: right">(15,875</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">)</TD><TD STYLE="width: 2%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 8%; font-size: 10pt; text-align: right">(2,346</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt">Add:</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 1pt">Fixed Charges</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">969</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">2,902</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">2,802</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">2,622</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">2,447</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">2,351</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left">Adjusted Earnings</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">(4,733</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">(5,411</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">(37,612</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">(10,814</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">(13,428</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">5</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">Fixed Charges:</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left">Interest Expense</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">948</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">2,876</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">2,767</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">2,563</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">2,380</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">2,303</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 1pt">Interest within Rent Expense</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">21</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">26</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">35</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">59</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">67</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">48</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">Total Fixed Charges</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">969</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">2,902</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">2,802</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">2,622</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">2,447</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">2,351</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">Earnings to Fixed Charges</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">(4.9</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">(1.9</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">(13.4</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">(4.1</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">(5.5</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">0.0</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left">Lease Expense</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">611</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">1,033</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">1,515</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">1,936</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">1,881</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">1,460</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left">Interest Rate on LOC</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">4.23</TD><TD STYLE="font-size: 10pt; text-align: left">%</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">2.62</TD><TD STYLE="font-size: 10pt; text-align: left">%</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">2.43</TD><TD STYLE="font-size: 10pt; text-align: left">%</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">2.15</TD><TD STYLE="font-size: 10pt; text-align: left">%</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">3.92</TD><TD STYLE="font-size: 10pt; text-align: left">%</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">3.25</TD><TD STYLE="font-size: 10pt; text-align: left">%</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-23.1
<SEQUENCE>4
<FILENAME>tv479755_ex23-1.htm
<DESCRIPTION>CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Exhibit 23.1</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Consent of Independent Registered Public
Accounting Firm</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Board of Directors<BR>
Clarus Corporation:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We consent to the use of our report dated
March&nbsp;6, 2017, with respect to the consolidated balance sheets of Clarus Corporation as of December&nbsp;31, 2016 and 2015,
and the related consolidated statements of comprehensive (loss) income, stockholders&rsquo; equity, cash flows for each of the
years in the three-year period ended December&nbsp;31, 2016, and the effectiveness of internal control over financial reporting
as of December&nbsp;31, 2016, incorporated herein by reference and to the reference to our firm under the heading &ldquo;Experts&rdquo;
in the prospectus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">/s/ KPMG LLP</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Salt Lake City, Utah<BR>
November 17, 2017</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="margin: 0"></P>

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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-23.2
<SEQUENCE>5
<FILENAME>tv479755_ex23-2.htm
<DESCRIPTION>CONSENT INDEPENDENT AUDITOR
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 23.2</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B>Consent
of Independent Auditor</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We consent to the incorporation by reference
in the Registration Statement No. 333-218751 on Form S-3 of Clarus Corporation our report dated March 9, 2017, with respect to
the consolidated balance sheets of Sierra Bullets, L.L.C. as of December 31, 2016 and 2015, and the related consolidated statements
of income, changes in members&rsquo; equity and cash flows for the years then ended.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We also consent to the reference of our
firm under the heading &ldquo;Experts&rdquo; in the prospectus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">/s/ Singer Lewak LLP</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Irvine, California</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">November 17, 2017</P>



<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

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<P STYLE="margin: 0"></P>

<P STYLE="margin: 0">&nbsp;</P>

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<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>6
<FILENAME>image_001.jpg
<DESCRIPTION>GRAPHIC
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
