<SEC-DOCUMENT>0001104659-21-059772.txt : 20210503
<SEC-HEADER>0001104659-21-059772.hdr.sgml : 20210503
<ACCEPTANCE-DATETIME>20210503092350
ACCESSION NUMBER:		0001104659-21-059772
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		7
CONFORMED PERIOD OF REPORT:	20210503
FILED AS OF DATE:		20210503
DATE AS OF CHANGE:		20210503

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Farmmi, Inc.
		CENTRAL INDEX KEY:			0001701261
		STANDARD INDUSTRIAL CLASSIFICATION:	CANNED, FRUITS, VEG & PRESERVES, JAMS & JELLIES [2033]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			E9
		FISCAL YEAR END:			0930

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-38397
		FILM NUMBER:		21881707

	BUSINESS ADDRESS:	
		STREET 1:		FL 1, BUILDING NO. 1
		STREET 2:		888 TIANNING STREET, LIANDU DISTRICT
		CITY:			LISHUI, ZHEJIANG PROVINCE
		STATE:			F4
		ZIP:			323000
		BUSINESS PHONE:		86-0578-82612876

	MAIL ADDRESS:	
		STREET 1:		FL 1, BUILDING NO. 1
		STREET 2:		888 TIANNING STREET, LIANDU DISTRICT
		CITY:			LISHUI, ZHEJIANG PROVINCE
		STATE:			F4
		ZIP:			323000
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>tm2114911d1_6k.htm
<DESCRIPTION>FORM 6-K
<TEXT>
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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>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION<BR>
Washington, D.C. 20549</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>FORM 6-K</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>REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO
RULE 13a-16 OR 15d-16<BR>
UNDER THE SECURITIES EXCHANGE ACT OF 1934</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>For the month of May 2021</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">Commission File Number: 001-38397</P>

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

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 18pt"><B>Farmmi, Inc.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Translation of registrant&rsquo;s name into English)</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white"><FONT STYLE="background-color: white"><B>Fl
1, Building No. 1, 888 Tianning Street, Liandu District </B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white"><FONT STYLE="background-color: white"><B>Lishui,
Zhejiang Province </B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white"><FONT STYLE="background-color: white"><B>People&rsquo;s
Republic of China 323000 </B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white">(Address of principal
executive offices)</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Indicate by check mark whether the registrant files
or will file annual reports under cover Form 20-F or Form 40-F.</P>

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

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  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 25%">&nbsp;</TD>
    <TD STYLE="width: 25%; text-align: center"><FONT STYLE="font-size: 10pt">Form 20-F <FONT STYLE="font-family: Wingdings"><FONT STYLE="font-family: Wingdings">&#120;</FONT></FONT></FONT></TD>
    <TD STYLE="width: 25%; text-align: center"><FONT STYLE="font-size: 10pt">Form 40-F <FONT STYLE="font-family: Wingdings"><FONT STYLE="font-family: Wingdings">&#168;</FONT></FONT></FONT></TD>
    <TD STYLE="width: 25%">&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">Indicate by check mark if the registrant is submitting the Form 6-K
in paper as permitted by Regulation S-T Rule 101(b)(1):&nbsp;&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings"><FONT STYLE="font-family: Wingdings">&#168;</FONT></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">Indicate by check mark if the registrant is submitting the Form 6-K
in paper as permitted by Regulation S-T Rule 101(b)(7):&nbsp;&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings"><FONT STYLE="font-family: Wingdings">&#168;</FONT></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"></P>

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

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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; text-align: center"><B>EXPLANATORY NOTE</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; text-indent: 0.5in">On April 28, 2021, Farmmi,
Inc., a Cayman Islands corporation (the &ldquo;Company&rdquo;), entered into an underwriting agreement (the &ldquo;Underwriting Agreement&rdquo;)
with Aegis Capital Corp. (the &ldquo;Underwriter&rdquo;), pursuant to which the Company agreed to sell to the Underwriter, in a firm commitment
public offering (the &ldquo;Offering&rdquo;), 140,000,000 ordinary shares of the Company, par value $0.001 per share, at a public offering
price of $0.30 per share. Under the terms of the Underwriting Agreement, the Company granted the Underwriter a 45-day option to purchase
up to an additional 21,000,000 ordinary shares solely to cover over-allotments, if any. The Company expected to receive approximately
$44.1 million in net proceeds from the Offering (including the net proceeds from the exercise of the over-allotment option in full), after
deducting underwriting discounts and commissions and estimated offering expenses payable by the Company. The Offering was conducted pursuant
to the Company&rsquo;s registration statement on Form F-1 (File No. 333-255387) declared effective by the Securities and Exchange Commission
on April 28, 2021, an abbreviated registration statement on Form F-1 pursuant to Rule 462(b) under the Securities Act of 1933, as amended (the &ldquo;Securities Act&rdquo;) (File No. 333-255590)
effective upon filing on April 28, 2021, and a prospectus dated April 28, 2021.</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 Underwriting Agreement
contains customary representations, warranties and covenants of the Company, customary conditions to closing, indemnification obligations
of the Company and the Underwriter, including liabilities under the Securities Act, and termination and other provisions
customary for transactions of this nature. All of the Company&rsquo;s executive officers and directors have also agreed not to sell or
transfer any securities of the Company held by them for a period of 60 days, from the closing of the Offering, subject to limited exceptions.</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 above description of the
Underwriting Agreement is qualified in its entirety by the Underwriting Agreement, which is attached to this report as Exhibit 1.1 and
is incorporated herein by reference. A copy of the opinion of Campbells LLP, as legal counsel to the Company, relating to the legality
of the issuance and sale of the shares in the Offering is attached hereto as Exhibit 5.1.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On April 28, 2021, the Company
issued a press release announcing that it had priced the Offering, which press release is filed as Exhibit 99.1 to this report and 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; text-indent: 0.5in">On May 3, 2021, the Company
closed its previously announced underwritten public Offering of 161,000,000 ordinary shares, including 21,000,000 ordinary shares issued
upon the Underwriter&rsquo;s exercise of the over-allotment option in full. In connection with the closing, the Company issued a press
release announcing the closing of the Offering. A copy of the press release is included as Exhibit 99.2 to this report and 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; text-indent: 0.5in">This report on Form 6-K is
incorporated by reference into the Company&rsquo;s Registration Statements on Form F-3 (File No. 333-254036, No. 254397 and No. 333-228677)
and Form S-8 (File No. 333-224463).</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>EXHIBIT INDEX</B></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: 7%; border-bottom: black 1pt solid"><FONT STYLE="font-size: 10pt"><B>Exhibit</B></FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 92%; border-bottom: black 1pt solid; padding-right: 5.4pt"><FONT STYLE="font-size: 10pt"><B>Description</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><A HREF="tm2114911d1_ex1-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">1.1</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; text-align: justify"><A HREF="tm2114911d1_ex1-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">Underwriting Agreement by and between Farmmi, Inc. and Aegis Capital Corp, dated April 28, 2021</FONT></A></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><A HREF="tm2114911d1_ex5-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">5.1</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; text-align: justify"><A HREF="tm2114911d1_ex5-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">Opinion of Campbells LLP</FONT></A></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><A HREF="tm2114911d1_ex5-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">23.1</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; text-align: justify"><A HREF="tm2114911d1_ex5-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">Consent of Campbells LLP (included in Exhibit 5.1)</FONT></A></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><A HREF="tm2114911d1_ex99-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">99.1</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; text-align: justify"><A HREF="tm2114911d1_ex99-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">Press release titled: &ldquo;Farmmi, Inc. Prices $42.0 Million Upsized Underwritten Public Offering of Ordinary Shares,&rdquo; dated April 28, 2021</FONT></A></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><A HREF="tm2114911d1_ex99-2.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">99.2</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; text-align: justify"><A HREF="tm2114911d1_ex99-2.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">Press release titled: &ldquo;Farmmi, Inc. Closes $48.3 Million Upsized Underwritten Public Offering of Ordinary Shares Including Exercise of the Over-Allotment,&rdquo; dated May 3, 2021</FONT></A></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&nbsp;</P>

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

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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; text-align: center"><B>SIGNATURE</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">Pursuant to the requirements
of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto
duly authorized.</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%">
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt"><B>Farmmi, Inc.</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 47%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">Date: May 3, 2021&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">By: </FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid"><FONT STYLE="font-size: 10pt">/s/ Yefang Zhang</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-size: 10pt">Yefang Zhang</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Chief Executive Officer</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>



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<DOCUMENT>
<TYPE>EX-1.1
<SEQUENCE>2
<FILENAME>tm2114911d1_ex1-1.htm
<DESCRIPTION>EXHIBIT 1.1
<TEXT>
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0; text-align: right; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>Exhibit 1.1</B></FONT></P>

<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: center"><FONT STYLE="font-size: 10pt"><B>140,000,000 ORDINARY
SHARES, PAR VALUE $0.001 PER SHARE </B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 47.65pt 0pt 46.75pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 47.65pt 0pt 46.6pt; text-align: center">FARMMI, INC.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 47.65pt 0pt 46.6pt; text-align: center">UNDERWRITING AGREEMENT</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 6in">April 28, 2021</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 207pt 0pt 0.25in; text-indent: -13.5pt">Aegis Capital Corp.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 207pt 0pt 0.25in; text-indent: -13.5pt">As the Representative of the
Several underwriters, if any, named in <FONT STYLE="font-size: 10pt"><U>Schedule I</U></FONT> hereto</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 207pt 0pt 0.25in; text-indent: -13.5pt">810 7th Avenue</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 207pt 0pt 0.25in; text-indent: -13.5pt">New York, New York 10019</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 5.95pt">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 5.65pt 0pt 5pt; text-align: justify; text-indent: 0.5in">The undersigned,
Farmmi, Inc., a Cayman Islands company limited by shares (collectively with its Subsidiaries (as defined below) the &#8220;<FONT STYLE="font-size: 10pt"><U>Company</U></FONT>&#8221;),
hereby confirms its agreement (this &#8220;<FONT STYLE="font-size: 10pt"><U>Agreement</U></FONT>&#8221;) with the several underwriters
(such underwriters, including the Representative (as defined below), the &#8220;<FONT STYLE="font-size: 10pt"><U>Underwriters</U></FONT>&#8221;
and each an &#8220;<FONT STYLE="font-size: 10pt"><U>Underwriter</U></FONT>&#8221;) named in <FONT STYLE="font-size: 10pt"><U>Schedule
I</U></FONT> hereto for which Aegis Capital Corp. is acting as representative to the several Underwriters (the &#8220;<FONT STYLE="font-size: 10pt"><U>Representative</U></FONT>&#8221;
and if there are no Underwriters other than the Representative, references to multiple Underwriters shall be disregarded and the term
Representative as used herein shall have the same meaning as Underwriter) on the terms and conditions set forth herein.</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 5.75pt 0pt 5pt; text-align: justify; text-indent: 0.5in">It is understood
that the several Underwriters are to make a public offering of the Firm Shares (as defined below) as soon as the Representative deems
it advisable to do so. The Firm Shares are to be offered to the public at the public offering price set forth in the Prospectus (as defined
below).</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 5.8pt 0pt 5pt; text-align: justify; text-indent: 0.5in">It is further
understood that you will act as the Representative for the Underwriters in the offering and sale of the Closing Shares (as defined below)
and, if any, the Over-Allotment Shares (as defined below) in accordance with this Agreement.</P>

<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-top: 0pt; margin-bottom: 0pt; text-align: center">ARTICLE I. DEFINITIONS</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5pt; text-indent: 0.5in">1.1 <FONT STYLE="font-size: 10pt"><U>Definitions</U></FONT>.
In addition to the terms defined elsewhere in this Agreement, for all purposes of this Agreement, the following terms have the meanings
set forth in this Section 1.1:</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 0pt 40.5pt; text-align: justify; text-indent: 0.5in">&#8220;<FONT STYLE="font-size: 10pt"><U>Action</U></FONT>&#8221;
shall have the meaning ascribed to such term in Section 3.1(l).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.8pt 0pt 40.5pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.85pt 0pt 40.5pt; text-align: justify; text-indent: 0.5in">&#8220;<FONT STYLE="font-size: 10pt"><U>Affiliate</U></FONT>&#8221;
means with respect to any Person, any other Person that, directly or indirectly through one or more intermediaries, controls or is controlled
by or is under common control with such Person as such terms are used in and construed under Rule 405 under the Securities Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.85pt 0pt 40.5pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.85pt 0pt 40.5pt; text-align: justify; text-indent: 0.5in">&#8220;<FONT STYLE="font-size: 10pt"><U>Applicable
Time</U></FONT>&#8221; means 7:30 a.m., Eastern time, on the date of this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 40.5pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 40.5pt; text-align: justify; text-indent: 0.5in">&#8220;<FONT STYLE="font-size: 10pt"><U>Board
of Directors</U></FONT>&#8221; means the board of directors of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 40.5pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 40.5pt; 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 40.5pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 40.5pt; text-align: justify; text-indent: 0.5in">&#8220;<FONT STYLE="font-size: 10pt"><U>Business
Day</U></FONT>&#8221; means any day other than Saturday and Sunday or other day on which commercial banks in the City of New York are
authorized or required by law to remain closed; <FONT STYLE="font-size: 10pt"><U>provided</U></FONT>, <FONT STYLE="font-size: 10pt"><U>however</U></FONT>,
for clarification, commercials banks shall not be deemed to be authorized or required by law to remain closed due to &#8220;stay at home&#8221;,
&#8220;shelter in place&#8221;, &#8220;non-essential employee&#8221; or any other similar orders or restrictions or the closure of any
physical branch locations at the direction of any governmental authority so long as electronic funds transfer systems (including for
wire transfers) of commercial banks in the City of New York generally are open for use by customers on such day.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 40.5pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.7pt 0pt 40.5pt; text-align: justify; text-indent: 0.5in">&#8220;<FONT STYLE="font-size: 10pt"><U>Cayman
Counsel</U></FONT>&#8221; means Campbells LLP, with offices located at Floor 4, Willow House, Cricket Square, Grand Cayman KY1-9010,
Cayman Islands.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.7pt 0pt 40.5pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 40.5pt; text-align: justify; text-indent: 0.5in">&#8220;<FONT STYLE="font-size: 10pt"><U>Closing</U></FONT>&#8221;
means the closing of the purchase and sale of the Closing Shares pursuant to Section 2.1.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 40.5pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.7pt 0pt 40.5pt; text-align: justify; text-indent: 0.5in">&#8220;<FONT STYLE="font-size: 10pt"><U>Closing
Date</U></FONT>&#8221; means the hour and the date on the Trading Day on which all conditions precedent to (i) the Underwriters&#8217;
obligations to pay the Closing Purchase Price and (ii) the Company&#8217;s obligations to deliver the Closing Shares, in each case, have
been satisfied or waived, but in no event later than 11:15 a.m. (New York City time) on the second (2nd) Trading Day following the date
hereof or at such earlier time as shall be agreed upon by the Representative and the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 40.5pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.9pt 0pt 40.5pt; text-align: justify; text-indent: 0.5in">&#8220;<FONT STYLE="font-size: 10pt"><U>Closing
Purchase Price</U></FONT>&#8221; shall have the meaning ascribed to such term in Section 2.1(b), which aggregate purchase price shall
be net of the underwriting discounts and commissions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 40.5pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 34.5pt 0pt 40.5pt; text-align: justify; text-indent: 0.5in">&#8220;<FONT STYLE="font-size: 10pt"><U>Closing
Shares</U></FONT>&#8221; shall have the meaning ascribed to such term in Section 2.1(a)(i).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 40.5pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 47.65pt 0pt 40.5pt; text-align: justify; text-indent: 0.5in">&#8220;<FONT STYLE="font-size: 10pt"><U>Commission</U></FONT>&#8221;
means the United States Securities and Exchange Commission.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 40.5pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 28.25pt 0pt 40.5pt; text-align: justify; text-indent: 0.5in">&#8220;<FONT STYLE="font-size: 10pt"><U>Company
Auditor</U></FONT>&#8221; means Friedman LLP.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 40.5pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 40.5pt; text-align: justify; text-indent: 0.5in">&#8220;<FONT STYLE="font-size: 10pt"><U>Exchange
Act</U></FONT>&#8221; means the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 40.5pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 40.5pt; text-align: justify; text-indent: 0.5in">&#8220;<FONT STYLE="font-size: 10pt"><U>Execution
Date</U></FONT>&#8221; shall mean the date on which the parties execute and enter into this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 40.5pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 40.5pt; text-align: justify; text-indent: 0.5in">&#8220;<FONT STYLE="font-size: 10pt"><U>FCPA</U></FONT>&#8221;
means the Foreign Corrupt Practices Act of 1977, as amended.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 40.5pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 40.5pt; text-align: justify; text-indent: 0.5in">&#8220;<FONT STYLE="font-size: 10pt"><U>FINRA</U></FONT>&#8221;
means the Financial Industry Regulatory Authority.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 40.5pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 33.15pt 0pt 40.5pt; text-align: justify; text-indent: 0.5in">&#8220;<FONT STYLE="font-size: 10pt"><U>Firm
Shares</U></FONT>&#8221; means, collectively, the Closing Shares and, if any, the Over-Allotment Shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 40.5pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.7pt 0pt 40.5pt; text-align: justify; text-indent: 0.5in">&#8220;<FONT STYLE="font-size: 10pt"><U>Indebtedness</U></FONT>&#8221;
means (a) any liabilities for borrowed money or amounts owed in excess of $50,000 (other than trade accounts payable incurred in the
ordinary course of business), (b) all guaranties, endorsements and other contingent obligations in respect of indebtedness of others,
whether or not the same are or should be reflected in the Company&#8217;s consolidated balance sheet (or the notes thereto), except guaranties
by endorsement of negotiable instruments for deposit or collection or similar transactions in the ordinary course of business; and (c)
the present value of any lease payments in excess of $50,000 due under leases required to be capitalized in accordance with U.S. GAAP.</P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 40.5pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 40.5pt; 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 40.5pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.85pt 0pt 40.5pt; text-align: justify; text-indent: 0.5in">&#8220;<FONT STYLE="font-size: 10pt"><U>Liens</U></FONT>&#8221;
means a lien, charge, pledge, security interest, encumbrance, right of first refusal, preemptive right or other restriction.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 40.5pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.8pt 0pt 40.5pt; text-align: justify; text-indent: 0.5in">&#8220;<FONT STYLE="font-size: 10pt"><U>Lock-Up
Agreements</U></FONT>&#8221; shall mean the lock-up agreements that delivered on the date hereof by each of the Company&#8217;s executive
officers and directors holding Ordinary Shares or Ordinary Share Equivalents in the form of <FONT STYLE="font-size: 10pt"><U>Exhibit
A</U></FONT> attached hereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 40.5pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.7pt 0pt 40.5pt; text-align: justify; text-indent: 0.5in">&#8220;<FONT STYLE="font-size: 10pt"><U>Material
Adverse Effect</U></FONT>&#8221; means (i) a material adverse effect on the legality, validity or enforceability of any Transaction Document,
(ii) a material adverse effect on the results of operations, assets, business, prospects or condition (financial or otherwise) of the
Company and the Subsidiaries, taken as a whole or (iii) a material adverse effect on the Company&#8217;s ability to perform in any material
respect on a timely basis its obligations under any Transaction Document.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 40.5pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 40.5pt; text-align: justify; text-indent: 0.5in">&#8220;<FONT STYLE="font-size: 10pt"><U>Offering</U></FONT>&#8221;
shall have the meaning ascribed to such term in Section 2.1(c).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 40.5pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 41.05pt; text-align: justify; text-indent: 35.3pt">&#8220;<FONT STYLE="font-size: 10pt"><U>Ordinary
Shares</U></FONT>&#8221; means the ordinary shares of the Company, par value $0.001 per share, and any other class of securities into
which such securities may hereafter be reclassified or changed.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 41.05pt; text-align: justify; text-indent: 35.3pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 41.05pt; text-align: justify; text-indent: 35.3pt">&#8220;<FONT STYLE="font-size: 10pt"><U>Ordinary
Share Equivalents</U></FONT>&#8221; means any securities of the Company or the Subsidiaries which would entitle the holder thereof to
acquire at any time Ordinary Shares, including, without limitation, any debt, preferred stock, right, option, warrant or other instrument
that is at any time convertible into or exercisable or exchangeable for, or otherwise entitles the holder thereof to receive, Ordinary
Shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 41.05pt; text-align: justify; text-indent: 35.3pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 41.05pt; text-align: justify; text-indent: 35.3pt">&#8220;<FONT STYLE="font-size: 10pt"><U>Ordinary
Share Purchase Price</U></FONT>&#8221; shall have the meaning ascribed to such term in Section 2.1(b).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 41.05pt; text-align: justify; text-indent: 35.3pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 40.5pt; text-align: justify; text-indent: 0.5in">&#8220;<FONT STYLE="font-size: 10pt"><U>Over-Allotment
Closing</U></FONT>&#8221; means the closing of the purchase and sale of the Over-Allotment Shares pursuant to Section 2.2.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 40.5pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 26.25pt 0pt 40.5pt; text-align: justify; text-indent: 0.5in">&#8220;<FONT STYLE="font-size: 10pt"><U>Over-Allotment
Closing Date</U></FONT>&#8221; shall have the meaning ascribed to such term in Section 2.2(c).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 40.5pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 41pt; text-align: justify; text-indent: 35.5pt">&#8220;<FONT STYLE="font-size: 10pt"><U>Over-Allotment
Closing Purchase Price</U></FONT>&#8221; shall have the meaning ascribed to such term in Section 2.2(b), which aggregate purchase price
shall be net of the underwriting discounts and commissions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 41pt; text-align: justify; text-indent: 35.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 41.05pt; text-align: justify; text-indent: 35.3pt">&#8220;<FONT STYLE="font-size: 10pt"><U>Over-Allotment
Option</U></FONT>&#8221; shall have the meaning ascribed to such term in Section 2.2(a).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 41pt; text-align: justify; text-indent: 35.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 47.65pt 0pt 41.05pt; text-align: justify; text-indent: 35.3pt">&#8220;<FONT STYLE="font-size: 10pt"><U>Over-Allotment
Shares</U></FONT>&#8221; means the Ordinary Shares to be delivered pursuant to the Over-Allotment Closing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 41.05pt; text-align: justify; text-indent: 35.3pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 41.05pt; text-align: justify; text-indent: 35.3pt">&#8220;<FONT STYLE="font-size: 10pt"><U>Person</U></FONT>&#8221;
means an individual or corporation, partnership, trust, incorporated or unincorporated association, joint venture, limited liability
company, joint stock company, government (or an agency or subdivision thereof) or other entity of any kind.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 41pt; text-align: justify; text-indent: 35.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 41pt; text-align: justify; text-indent: 35.5pt">&#8220;<FONT STYLE="font-size: 10pt"><U>Preliminary
Prospectus</U></FONT>&#8221; shall have the meaning ascribed to such term in Section 3.1(g).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 41pt; text-align: justify; text-indent: 35.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 41pt; text-align: justify; text-indent: 35.5pt">&#8220;<FONT STYLE="font-size: 10pt"><U>Pricing
Disclosure Package</U></FONT>&#8221; means any free writing prospectus issued at or prior to the Applicable Time, the Pricing Prospectus
and the information included on Schedule 2-A hereto, all considered together.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 41pt; text-align: justify; text-indent: 35.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 41pt; text-align: justify; text-indent: 35.5pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 41pt; text-align: justify; text-indent: 35.5pt">&nbsp;</P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 41pt; text-align: justify; text-indent: 35.5pt">&#8220;<FONT STYLE="font-size: 10pt"><U>Pricing
Prospectus</U></FONT>&#8221; shall have the meaning ascribed to such term in Section 3.1(g).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 41pt; text-align: justify; text-indent: 35.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.7pt 0pt 41pt; text-align: justify; text-indent: 35.5pt">&#8220;<FONT STYLE="font-size: 10pt"><U>Proceeding</U></FONT>&#8221;
means an action, claim, suit, investigation or proceeding (including, without limitation, an informal investigation or partial proceeding,
such as a deposition), whether commenced or threatened.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 41pt; text-align: justify; text-indent: 35.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 47.65pt 0pt 41pt; text-align: justify; text-indent: 35.5pt">&#8220;<FONT STYLE="font-size: 10pt"><U>Prospectus</U></FONT>&#8221;
shall have the meaning ascribed to such term in Section 3.1(g).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 41pt; text-align: justify; text-indent: 35.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 41pt; text-align: justify; text-indent: 35.5pt">&#8220;<FONT STYLE="font-size: 10pt"><U>Registration
Statement</U></FONT>&#8221; shall have the meaning ascribed to such term in Section 3.1(g).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 41pt; text-align: justify; text-indent: 35.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 29.55pt 0pt 41pt; text-align: justify; text-indent: 35.5pt">&#8220;<FONT STYLE="font-size: 10pt"><U>Required
Approvals</U></FONT>&#8221; shall have the meaning ascribed to such term in Section 3.1(f).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 41pt; text-align: justify; text-indent: 35.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.8pt 0pt 41pt; text-align: justify; text-indent: 35.5pt">&#8220;<FONT STYLE="font-size: 10pt"><U>Rule
424</U></FONT>&#8221; means Rule 424 promulgated by the Commission pursuant to the Securities Act, as such Rule may be amended or interpreted
from time to time, or any similar rule or regulation hereafter adopted by the Commission having substantially the same purpose and effect
as such Rule.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 41pt; text-align: justify; text-indent: 35.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.75pt 0pt 41pt; text-align: justify; text-indent: 35.5pt">&#8220;<FONT STYLE="font-size: 10pt"><U>Rule
462(b) Registration Statement</U></FONT>&#8221; means any registration statement prepared by the Company registering additional Firm
Shares, which was filed with the Commission on or prior to the date hereof and became automatically effective pursuant to Rule 462(b)
promulgated by the Commission pursuant to the Securities Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 41pt; text-align: justify; text-indent: 35.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 47.65pt 0pt 41pt; text-align: justify; text-indent: 35.5pt">&#8220;<FONT STYLE="font-size: 10pt"><U>SEC
Reports</U></FONT>&#8221; shall have the meaning ascribed to such term in Section 3.1(j).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 41pt; text-align: justify; text-indent: 35.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 41pt; text-align: justify; text-indent: 35.5pt">&#8220;<FONT STYLE="font-size: 10pt"><U>Securities
Act</U></FONT>&#8221; means the Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 41pt; text-align: justify; text-indent: 35.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 41pt; text-align: justify; text-indent: 35.5pt">&#8220;<FONT STYLE="font-size: 10pt"><U>Shares</U></FONT>&#8221;
means, collectively, the Ordinary Shares delivered to the Underwriters in accordance with Section 2.1(a) and Section 2.2(a).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 41pt; text-align: justify; text-indent: 35.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 41pt; text-align: justify; text-indent: 35.5pt">&#8220;<FONT STYLE="font-size: 10pt"><U>SRF</U></FONT>&#8221;
means Sichenzia Ross Ference LLP, with offices located at 1185 Avenue of the Americas, 31<FONT STYLE="font-size: 10pt"><SUP>st</SUP></FONT>
Floor, New York, New York 10036.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 41pt; text-align: justify; text-indent: 35.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 41pt; text-align: justify; text-indent: 35.5pt">&#8220;<FONT STYLE="font-size: 10pt"><U>Subsidiary</U></FONT>&#8221;
means any subsidiary of the Company and shall, where applicable, also include any direct or indirect subsidiary of the Company formed
or acquired after the date hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 41pt; text-align: justify; text-indent: 35.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 41pt; text-align: justify; text-indent: 35.5pt">&#8220;<FONT STYLE="font-size: 10pt"><U>Trading
Day</U></FONT>&#8221; means a day on which the principal Trading Market in the United States is open for trading.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 41pt; text-align: justify; text-indent: 35.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.8pt 0pt 41pt; text-align: justify; text-indent: 35.5pt">&#8220;<FONT STYLE="font-size: 10pt"><U>Trading
Market</U></FONT>&#8221; means any of the following markets or exchanges on which the Ordinary Shares are listed or quoted for trading
on the date in question: the NYSE American, the Nasdaq Capital Market, the Nasdaq Global Market, the Nasdaq Global Select Market or the
New York Stock Exchange (or any successors to any of the foregoing).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 41pt; text-align: justify; text-indent: 35.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.75pt 0pt 41pt; text-align: justify; text-indent: 35.5pt">&#8220;<FONT STYLE="font-size: 10pt"><U>Transaction
Documents</U></FONT>&#8221; means this Agreement, the Lock-Up Agreements, and any other documents or agreements executed in connection
with the transactions contemplated hereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 41pt; text-align: justify; text-indent: 35.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 41pt; text-align: justify; text-indent: 35.5pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 41pt; text-align: justify; text-indent: 35.5pt">&nbsp;</P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 29.9pt 0pt 41pt; text-align: justify; text-indent: 35.5pt">&#8220;<FONT STYLE="font-size: 10pt"><U>Transfer
Agent</U></FONT>&#8221; means TranShare Corporation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 41pt; text-align: justify; text-indent: 35.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 41pt; text-align: justify; text-indent: 35.5pt">&#8220;<FONT STYLE="font-size: 10pt"><U>U.S.
Company Counsel</U></FONT>&#8221; means Kaufman &amp; Canoles, with offices located at Two James Center, 14th Floor, 1021 E. Cary St.,
Richmond, VA 23219.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 41pt; text-align: justify; text-indent: 35.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 41pt; text-align: justify; text-indent: 35.5pt">&#8220;<FONT STYLE="font-size: 10pt"><U>U.S.
GAAP</U></FONT>&#8221; means U.S. Generally Accepted Accounting Principles, a common set of accounting principles, standards, and procedures
issued by the Financial Accounting Standards Board in the United States.</P>

<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-top: 0pt; margin-bottom: 0pt; text-align: center">ARTICLE II. PURCHASE
AND SALE</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 40.95pt"></TD><TD STYLE="width: 15.15pt">2.1</TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><U>Closing</U></FONT>.</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.75pt 0pt 41pt; text-align: justify; text-indent: 0.5in">(a) Upon the
terms and subject to the conditions set forth herein, the Company agrees to sell in the aggregate 140,000,000 Ordinary Shares and each
Underwriter agrees to purchase, severally and not jointly, at the Closing, the number of Ordinary Shares (the &#8220;<FONT STYLE="font-size: 10pt"><U>Closing
Shares</U></FONT>&#8221; or &#8220;<FONT STYLE="font-size: 10pt"><U>Firm Shares</U></FONT>&#8221;) set forth opposite the name of such
Underwriter on <FONT STYLE="font-size: 10pt"><U>Schedule I</U></FONT> hereof.</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 5.75pt 0pt 41pt; text-align: justify; text-indent: 38.5pt">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;
</FONT>The aggregate purchase price for the Closing Shares shall equal the amount set forth opposite the name of such Underwriter on
<FONT STYLE="font-size: 10pt"><U>Schedule I</U></FONT> hereto (the &#8220;<FONT STYLE="font-size: 10pt"><U>Closing Purchase Price</U></FONT>&#8221;).
The price per Ordinary Share to the public shall be $0.30 per Ordinary Share (and $0.27975 to the Underwriter) (or (the &#8220;<FONT STYLE="font-size: 10pt"><U>Ordinary
Share Purchase Price</U></FONT>&#8221;).</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 5.75pt 0pt 41pt; text-align: justify; text-indent: 0.5in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;
</FONT>On the Closing Date, each Underwriter shall deliver or cause to be delivered to the Company, via wire transfer, immediately available
funds equal to such Underwriter&#8217;s Closing Purchase Price and the Company shall concurrently deliver to, or as directed by, such
Underwriter its respective Closing Shares and the Company shall deliver the other items required pursuant to Section 2.3 deliverable
at the Closing. Upon satisfaction of the covenants and conditions set forth in Sections 2.3 and 2.4, the Closing shall occur at the offices
of SRF or such other location as the Company and Representative shall mutually agree. The Firm Shares are to be offered to the public
at the offering price set forth on the cover page of the Prospectus (the &#8220;<FONT STYLE="font-size: 10pt"><U>Offering</U></FONT>&#8221;).</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 40.95pt"></TD><TD STYLE="width: 15.15pt">2.2</TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><U>Over-Allotment
                                            Option</U></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 5.75pt 0pt 41pt; text-align: justify; text-indent: 0.5in">(a) For the
purposes of covering any over-allotments, the Representative is hereby granted an option (the &#8220;<FONT STYLE="font-size: 10pt"><U>Over-Allotment
Option</U></FONT>&#8221;) to purchase, in the aggregate, up to 21,000,000 additional Ordinary Shares (the &#8220;<FONT STYLE="font-size: 10pt"><U>Over-Allotment
Shares</U></FONT>&#8221;).</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.75pt 0pt 41pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.7pt 0pt 41pt; text-align: justify; text-indent: 38.5pt">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;
</FONT>In connection with an exercise of the Over-Allotment Option, the purchase price to be paid for the Over-Allotment Shares is equal
to the product of the Ordinary Share Purchase Price multiplied by the number of Over-Allotment Shares to be purchased (the purchase price
to be paid on an Over-Allotment Closing Date, the &#8220;<FONT STYLE="font-size: 10pt"><U>Over-Allotment Closing Purchase Price</U></FONT>&#8221;).</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: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 41pt; text-align: justify; text-indent: 38.5pt">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;
</FONT>The Over-Allotment Option granted pursuant to this Section 2.2 may be exercised by the Representative as to all (at any time)
or any part (from time to time) of the Over-Allotment Shares for 45 days after the closing of the Offering. An Underwriter will not be
under any obligation to purchase any Over-Allotment Shares prior to the exercise of the Over-Allotment Option by the Representative.
The Over-Allotment Option granted hereby may be exercised by the giving of oral notice to the Company from the Representative, which
must be confirmed in writing by overnight mail, email or facsimile or other electronic transmission setting forth the number of Over-Allotment
Shares to be purchased and the date and time for delivery of and payment for such Over-Allotment Shares (each, an &#8220;<FONT STYLE="font-size: 10pt"><U>Over-Allotment
Closing Date</U></FONT>&#8221;), which will not be later than two (2) full Business Days after the date of the notice or such other time
as shall be agreed upon by the Company and the Representative, at the offices of SRF or at such other place (including remotely by facsimile
or other electronic transmission) as shall be agreed upon by the Company and the Representative. If such delivery and payment for the
Over-Allotment Shares does not occur on the Closing Date, each Over-Allotment Closing Date will be as set forth in the notice. Upon exercise
of the Over-Allotment Option, the Company will become obligated to convey to the Underwriters, and, subject to the terms and conditions
set forth herein, the Underwriters will become obligated to purchase, the number of Over-Allotment Shares specified in such notice. The
Representative may cancel the Over-Allotment Option at any time prior to the expiration of the Over- Allotment Option by written notice
to the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.7pt 0pt 41pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 5pt; text-align: justify; text-indent: 0.5in">2.3<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt"><U>Deliveries</U></FONT>. The Company shall deliver or cause to be delivered to each Underwriter
(if applicable) the following:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 5pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.7pt 0pt 41pt; text-align: justify; text-indent: 0.5in">(i)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;
</FONT>At the Closing Date, the Closing Shares and, as to each Over-Allotment Closing Date, if any, the applicable Over-Allotment Shares,
which shall be delivered via The Depository Trust Company Deposit or Withdrawal at Custodian system for the accounts of the several Underwriters;</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 5.7pt 0pt 41pt; text-align: justify; text-indent: 0.5in">(ii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;
</FONT>At the Closing Date, legal opinions of Cayman Counsel and U.S. Company Counsel addressed to the Underwriters, including, without
limitation, a negative assurance letter from U.S. Company Counsel addressed to the Underwriters, substantially in form and substance
reasonably satisfactory to the Representatives, and as to the Closing Date and at each Over-Allotment Closing Date, if any, a bring-down
opinion from Cayman Counsel and U.S. Company Counsel in form and substance reasonably satisfactory to the Representatives;</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 5.65pt 0pt 41pt; text-align: justify; text-indent: 0.5in">(iii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;
</FONT>Contemporaneously herewith, comfort letters, addressed to the Underwriters and in form and substance satisfactory in all respects
to the Representative from the Company Auditor dated as of the date of this Agreement and bring-down letters dated as of the Closing
Date and each Over-Allotment Closing Date, if any;</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 5.8pt 0pt 41pt; text-align: justify; text-indent: 0.5in">(iv)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT>On
the Closing Date and on each Over-Allotment Closing Date, the duly executed and delivered Officer&#8217;s Certificates, each substantially
in the form and substance reasonably satisfactory to the Representatives;</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 5.8pt 0pt 41pt; text-align: justify; text-indent: 0.5in">(v)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;</FONT>On
the Closing Date and on each Over-Allotment Closing Date, the duly executed and delivered Secretary&#8217;s Certificate, substantially
in the form and substance reasonably satisfactory to the Representatives; and</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 5.8pt 0pt 41pt; text-align: justify; text-indent: 0.5in">(vi)&nbsp;Contemporaneously
herewith, the duly executed and delivered Lock-Up Agreements.</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 5.75pt 0pt 5pt; text-align: justify; text-indent: 0.5in">2.4<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt"><U>Closing Conditions</U></FONT>. The respective obligations of each Underwriter hereunder in connection
with the Closing and each Over-Allotment Closing Date are subject to the following conditions being met:</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 5.75pt 0pt 41pt; text-align: justify; text-indent: 0.5in">(i)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;</FONT>the
accuracy in all material respects when made and on the date in question (other than representations and warranties of the Company already
qualified by materiality, which shall be true and correct in all respects) of the representations and warranties of the Company contained
herein (unless as of a specific date therein);</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: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.95pt 0pt 41pt; text-align: justify; text-indent: 0.5in">(ii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;
</FONT>all obligations, covenants and agreements of the Company required to be performed at or prior to the date in question shall have
been performed;</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 5.8pt 0pt 41pt; text-align: justify; text-indent: 0.5in">(iii)&nbsp;the
delivery by the Company of the items set forth in Section 2.3 of this Agreement;</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 5.75pt 0pt 41pt; text-align: justify; text-indent: 0.5in">(iv)&nbsp;the
Registration Statement shall be effective on the date of this Agreement and at each of the Closing Date and each Over-Allotment Closing
Date, if any, no stop order suspending the effectiveness of the Registration Statement shall have been issued and no proceedings for
that purpose shall have been instituted or shall be pending or contemplated by the Commission and any request on the part of the Commission
for additional information shall have been complied with to the reasonable satisfaction of the Representative;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.7pt 0pt 41pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.75pt 0pt 41pt; text-align: justify; text-indent: 0.5in">(v)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;</FONT>by
the Execution Date, the Underwriters shall have received clearance from FINRA as to the amount of compensation allowable or payable to
the Underwriters as described in the Registration Statement;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.75pt 0pt 79.5pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.75pt 0pt 41pt; text-align: justify; text-indent: 38.5pt">(vi)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT>the
Closing Shares or the Over-Allotment Shares have been approved for listing on the Trading Market, if applicable; and</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 5.75pt 0pt 41pt; text-align: justify; text-indent: 38.5pt">(vii)&nbsp;prior
to and on each of the Closing Date and each Over-Allotment Closing Date, if any: (i) there shall have been no material adverse change
or development involving a prospective material adverse change in the condition or prospects or the business activities, financial or
otherwise, of the Company from the latest dates as of which such condition is set forth in the SEC Reports; (ii) no action suit or proceeding,
at law or in equity, shall have been pending or threatened against the Company or any Affiliate of the Company before or by any court
or federal or state commission, board or other administrative agency wherein an unfavorable decision, ruling or finding would materially
adversely or would reasonably be expected to materially adversely affect the business, operations, prospects or financial condition or
income of the Company, except as set forth in the Registration Statement and Prospectus; (iii) no stop order shall have been issued under
the Securities Act and no proceedings therefor shall have been initiated or threatened by the Commission; and (iv) the SEC Reports and
any amendments or supplements thereto shall contain all material statements which are required to be stated therein in accordance with
the Securities Act and the rules and regulations thereunder and shall conform in all material respects to the requirements of the Securities
Act and the rules and regulations thereunder, and none of the SEC Reports nor any amendment or supplement thereto shall contain any untrue
statement of a material fact or omit to state any material fact required to be stated therein or necessary to make the statements therein,
in light of the circumstances under which they were made, not misleading.</P>



<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-top: 0pt; margin-bottom: 0pt; text-align: center">ARTICLE III. REPRESENTATIONS
AND WARRANTIES</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 142.6pt 0pt 142pt; text-align: left; text-indent: 65.75pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.75pt 0pt 5pt; text-align: justify; text-indent: 0.5in">3.1<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt"><U>Representations and Warranties of the Company</U></FONT>. The Company represents and warrants
to the Underwriters as of the Execution Date, as of the Closing Date and as of each Over-Allotment Closing Date, if any, as follows:</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 5.65pt 0pt 41pt; text-align: justify; text-indent: 0.5in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;
</FONT><FONT STYLE="font-size: 10pt"><U>Subsidiaries</U></FONT>. All of the direct and indirect Subsidiaries of the Company are set forth
or in the SEC Reports incorporated by reference in the Registration Statement. The Company owns, directly or indirectly, the capital
stock or other equity interests of each Subsidiary free and clear of any Liens, and all of the issued and outstanding shares of capital
stock of each consolidated Subsidiary are validly issued and are fully paid, non-assessable and free of preemptive and similar rights
to subscribe for or purchase securities.</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: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.7pt 0pt 41pt; text-align: justify; text-indent: 0.5in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt"><U>Organization and Qualification</U></FONT>. The Company and each of the Subsidiaries is an entity
duly incorporated or otherwise organized, validly existing and in good standing under the laws of the jurisdiction of its incorporation
or organization, with the requisite power and authority to own and use its properties and assets and to carry on its business described
in the SEC Reports. Neither the Company nor any Subsidiary is in violation nor default of any of the provisions of its respective certificate
or articles of incorporation, bylaws or other organizational or charter documents. Each of the Company and the Subsidiaries is duly qualified
to conduct business and is in good standing as a foreign corporation or other entity in each jurisdiction in which the nature of the
business conducted or property owned by it makes such qualification necessary, except where the failure to be so qualified or in good
standing, as the case may be, would not have or reasonably be expected to result in a Material Adverse Effect and to the Company&#8217;s
knowledge, no Proceeding has been instituted in any such jurisdiction revoking, limiting or curtailing or seeking to revoke, limit or
curtail such power and authority or qualification.</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 5.65pt 0pt 41pt; text-align: justify; text-indent: 38.5pt">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;
</FONT><FONT STYLE="font-size: 10pt"><U>Authorization; Enforcement</U></FONT>. The Company has the requisite corporate power and authority
to enter into and to consummate the transactions contemplated by this Agreement and each of the other Transaction Documents to which
it is a party and otherwise to carry out its obligations hereunder and thereunder. The execution and delivery of this Agreement and each
of the other Transaction Documents by the Company and the consummation by it of the transactions contemplated hereby and thereby have
been duly authorized by all necessary action on the part of the Company and no further action is required by the Company, the Board of
Directors or the Company&#8217;s shareholders in connection herewith or therewith other than in connection with the Required Approvals.
This Agreement and each other Transaction Document to which the Company is a party has been (or upon delivery will have been) duly executed
by the Company and, when delivered in accordance with the terms hereof and thereof, will constitute the valid and binding obligation
of the Company enforceable against the Company in accordance with its terms, except (i) as limited by general equitable principles and
applicable bankruptcy, insolvency, reorganization, moratorium and other laws of general application affecting enforcement of creditors&#8217;
rights generally, (ii) as limited by laws relating to the availability of specific performance, injunctive relief or other equitable
remedies and (iii) insofar as indemnification and contribution provisions may be limited by applicable law.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.6pt 0pt 41pt; text-align: justify; text-indent: 38.5pt">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;
</FONT><FONT STYLE="font-size: 10pt"><U>No Conflicts</U></FONT>. The execution, delivery and performance by the Company of this Agreement
and the other Transaction Documents to which it is a party, the issuance and sale of the Firm Shares and the consummation by it of the
transactions contemplated hereby and thereby do not and will not (i) conflict with or violate any provision of the Company&#8217;s or
any Subsidiary&#8217;s certificate or articles of incorporation, bylaws or other organizational or charter documents, or (ii) conflict
with, or constitute a default (or an event that with notice or lapse of time or both would become a default) under, result in the creation
of any Lien upon any of the properties or assets of the Company or any Subsidiary, or give to others any rights of termination, amendment,
anti-dilution or similar adjustments, acceleration or cancellation (with or without notice, lapse of time or both) of, any agreement,
credit facility, debt or other instrument (evidencing a Company or Subsidiary debt or otherwise) or other understanding to which the
Company or any Subsidiary is a party or by which any property or asset of the Company or any Subsidiary is bound or affected, or (iii)
subject to the Required Approvals, conflict with or result in a violation of any law, rule, regulation, order, judgment, injunction,
decree or other restriction of any court or governmental authority to which the Company or a Subsidiary is subject (including federal
and state securities laws and regulations), or by which any property or asset of the Company or a Subsidiary is bound or affected (including,
without limitation, those promulgated by the Food and Drug Administration of the U.S. Department of Health and Human Services (the &#8220;<FONT STYLE="font-size: 10pt"><U>FDA</U></FONT>&#8221;),
the European Medicines Agency (&#8220;<FONT STYLE="font-size: 10pt"><U>EMA</U></FONT>&#8221;), the Institutional Review Board (the &#8220;<FONT STYLE="font-size: 10pt"><U>IRB</U></FONT>&#8221;),
or by any foreign, federal, state or local regulatory authority performing functions similar to those performed above); except in the
case of each of clauses (ii) and (iii), such as would not have or reasonably be expected to result in a Material Adverse Effect.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.75pt 0pt 41pt; text-align: justify; text-indent: 0.5in">(e) <FONT STYLE="font-size: 10pt"><U>Filings,
Consents and Approvals</U></FONT>. The Company is not required to obtain any consent, waiver, authorization or order of, give any notice
to, or make any filing or registration with, any court or other federal, state, local or other governmental authority or other Person
in connection with the execution, delivery and performance by the Company of the Transaction Documents, other than: (i) the filing with
the Commission of the Prospectus, (ii) any required filing with FINRA, and (iii) such filings as are required to be made under applicable
state securities laws (collectively, the &#8220;<FONT STYLE="font-size: 10pt"><U>Required Approvals</U></FONT>&#8221;).</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.75pt 0pt 41pt; text-align: justify; text-indent: 0.5in">(f) <FONT STYLE="font-size: 10pt"><U>Registration
Statements</U></FONT>. The Company has filed with the Commission a registration statement, and an amendment or amendments thereto, on
Form F-1 (File No. 333-255387), including any related prospectus or prospectuses, which registration statement was declared effective
on April 28, 2021, for the registration of the sale of certain securities of the Company, including the Firm Shares and Over-Allotment
Shares under the Securities Act, and the rules and regulations of the Commission promulgated thereunder. Such registration statement,
including amendments thereto (including post effective amendments thereto)&nbsp;and all documents and information deemed to be a part
of the Registration Statement through incorporation by reference or otherwise at the time of effectiveness thereof (the &#8220;<FONT STYLE="font-size: 10pt"><U>Effective
Time</U></FONT>&#8221;), the exhibits and any schedules thereto at the Effective Time or thereafter during the period of effectiveness
and the documents and information otherwise deemed to be a part thereof or included therein by the Securities Act or otherwise pursuant
to the Rules and Regulations at the Effective Time or thereafter during the period of effectiveness, is herein called the &#8220;<FONT STYLE="font-size: 10pt"><U>Registration
Statement</U></FONT>.&#8221;&nbsp;If the Company has filed or files an abbreviated registration statement pursuant to Rule 462(b) under
the Securities Act (the &#8220;Rule 462 Registration Statement&#8221;), then any reference herein to the term Registration Statement
shall include such Rule 462 Registration Statement. Any preliminary prospectus included in the Registration Statement or filed with the
Commission pursuant to Rule 424(a) under the Securities Act is hereinafter called a &#8220;Preliminary Prospectus.&#8221; The Preliminary
Prospectus relating to the Firm Shares and Over-Allotment Shares (the &#8220;Securities&#8221;) that was included in the Registration
Statement immediately prior to the pricing of the offering contemplated hereby is hereinafter called the &#8220;Pricing Prospectus.&#8221;</P>



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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 41pt; text-align: justify; text-indent: 0.5in">The Company
is filing with the Commission pursuant to Rule 424 under the Securities Act a final prospectus covering the Securities, which includes
the information permitted to be omitted therefrom at the Effective Time by Rule 430A under the Securities Act. Such final prospectus,
as so filed, is hereinafter called the &#8220;Final Prospectus.&#8221; Each of the Final Prospectus, the Pricing Prospectus and any preliminary
prospectus in the form in which they were included in the Registration Statement or filed with the Commission pursuant to Rule 424 under
the Securities Act is hereinafter called a &#8220;Prospectus.&#8221; Reference made herein to any Preliminary Prospectus, the Pricing
Prospectus or to the Prospectus shall be deemed to refer to and include any documents incorporated by reference therein.</P>

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.7pt 0pt 41pt; text-align: justify; text-indent: 0.5in">Any reference
in this Agreement to the Registration Statement, the Preliminary Prospectus, the Pricing Prospectus or the Prospectus shall be deemed
to refer to and include the documents incorporated or deemed incorporated by reference therein (the &#8220;Incorporated Documents&#8221;)
pursuant to the Registration Statement which was filed under the Securities Exchange Act of 1934, as amended (the &#8220;Exchange Act&#8221;),
and the rules and regulations of the Commission promulgated thereunder (the &#8220;Exchange Act Regulations&#8221;), on or before the
date of this Agreement, or the issue date of the Preliminary Prospectus, the Pricing Prospectus or the Prospectus, as the case may be;
and any reference in this Agreement to the terms &#8220;amend,&#8221; &#8220;amendment&#8221; or &#8220;supplement&#8221; with respect
to the Registration Statement, the Preliminary Prospectus, the Pricing Prospectus or the Prospectus shall be deemed to refer to and include
the filing of any document under the Exchange Act after the date of this Agreement, or the issue date of the Preliminary Prospectus,
the Pricing Prospectus or the Prospectus, as the case may be, deemed to be incorporated therein by reference. All references in this
Agreement to financial statements and schedules and any other information which is &#8220;contained,&#8221; &#8220;included,&#8221; &#8220;described,&#8221;
&#8220;referenced,&#8221; &#8220;set forth&#8221; or &#8220;stated&#8221; in the Registration Statement, the Preliminary Prospectus,
the Pricing Prospectus or the Prospectus (and all other references of like import) shall be deemed to mean and include all such financial
statements and schedules and any other information which is or is deemed to be incorporated by reference in the Registration Statement,
the Preliminary Prospectus, the Pricing Prospectus or the Prospectus, as the case may be.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.8pt 0pt 41pt; text-align: justify; text-indent: 0.5in">The Company
will not, without the prior consent of the Representative, prepare, use or refer to, any free writing prospectus. For purposes of this
Agreement, &#8220;<FONT STYLE="font-size: 10pt"><U>free writing prospectus</U></FONT>&#8221; has the meaning set forth in Rule 405 under
the Securities Act.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.7pt 0pt 41pt; text-align: justify; text-indent: 0.5in">(g)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;
</FONT><FONT STYLE="font-size: 10pt"><U>Issuance of Shares</U></FONT>. The Shares are duly authorized and, when issued and paid for in
accordance with the applicable Transaction Documents, will be duly and validly issued, fully paid and nonassessable, free and clear of
all Liens imposed by the Company. The Company has reserved from its duly authorized capital stock the maximum number of Ordinary Shares
issuable in connection with the deposit of the Shares. The holder of the Shares will not be subject to personal liability by reason of
being such holders. The Shares are not and will not be subject to the preemptive rights of any holders of any security of the Company
or similar contractual rights granted by the Company. All corporate action required to be taken for the authorization, issuance and sale
of the Shares has been duly and validly taken. The Shares conform in all material respects to all statements with respect thereto contained
in the Registration Statement.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 41pt; text-align: justify; text-indent: 38.5pt">(h) <FONT STYLE="font-size: 10pt"><U>Capitalization</U></FONT>.
The capitalization of the Company, at the dates indicated therein, is as set forth in the Registration Statement. Except as disclosed
in the Registration Statement, the Company has not issued any equity since April 13, 2021, other than pursuant to the exercise of employee
stock options under the Company&#8217;s stock option plans, the issuance of Ordinary Shares to employees pursuant to the Company&#8217;s
employee stock purchase plans, pursuant to the conversion and/or exercise of Ordinary Share Equivalents. Except as disclosed in Section
4.19 of this Agreement, no Person has any right of first refusal, preemptive right, right of participation, or any similar right to participate
in the transactions contemplated by the Transaction Documents. Except as a result of the purchase and sale of the Shares or as set forth
in the Registration Statement, there are no outstanding options, warrants, scrip rights to subscribe to, calls or commitments of any
character whatsoever relating to, or securities, rights or obligations convertible into or exercisable or exchangeable for, or giving
any Person any right to subscribe for or acquire, any Ordinary Shares, or contracts, commitments, understandings or arrangements by which
the Company or any Subsidiary is or may become bound to issue additional Ordinary Shares or Ordinary Share Equivalents. The issuance
and sale of the Firm Shares will not obligate the Company to issue Ordinary Shares or other securities to any Person (other than the
Underwriters). Except as set forth in the Registration Statement, there are no outstanding securities or instruments of the Company or
any Subsidiary with any provision that adjusts the exercise, conversion, exchange or reset price of such security or instrument upon
an issuance of securities by the Company or any Subsidiary. All of the outstanding securities of the Company are duly authorized, validly
issued, fully paid and nonassessable, have been issued in compliance with all federal and state securities laws, and none of such outstanding
shares was issued in violation of any preemptive rights or similar rights to subscribe for or purchase securities. The authorized shares
of the Company conform in all material respects to all statements relating thereto contained in the Registration Statement and the Prospectus.
The offers and sales of the Company&#8217;s securities were at all relevant times either registered under the Securities Act and the
applicable state securities or Blue Sky laws or, based in part on representations and warranties of the purchasers, exempt from such
registration requirements. No further approval or authorization of any shareholder, the Board of Directors or others is required for
the issuance and sale of the Firm Shares. There are no shareholders agreements, voting agreements or other similar agreements with respect
to the Company&#8217;s capital stock to which the Company is a party or, to the knowledge of the Company, between or among any of the
Company&#8217;s shareholders.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.7pt 0pt 41pt; text-align: justify; text-indent: 38.5pt">(i)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt"><U>SEC Reports; Financial Statements</U></FONT>. The Company has filed all reports, schedules, forms,
statements and other documents required to be filed by the Company under the Securities Act and the Exchange Act, including pursuant
to Section 13(a) or 15(d) thereof, for the two years preceding the date hereof (or such shorter period as the Company was required by
law or regulation to file such material) (the foregoing materials, including the exhibits thereto and documents incorporated by reference
therein, together with the Prospectus, being collectively referred to herein as the &#8220;<FONT STYLE="font-size: 10pt"><U>SEC Reports</U></FONT>&#8221;)
on a timely basis or has received a valid extension of such time of filing and has filed any such SEC Reports prior to the expiration
of any such extension. As of their respective dates, the SEC Reports complied in all material respects with the requirements of the Securities
Act and the Exchange Act, as applicable, and none of the SEC Reports, when filed, contained any untrue statement of a material fact or
omitted to state a material fact required to be stated therein or necessary in order to make the statements therein, in the light of
the circumstances under which they were made, not misleading. The financial statements of the Company included in the SEC Reports comply
in all material respects with applicable accounting requirements and the rules and regulations of the Commission with respect thereto
as in effect at the time of filing. Such financial statements have been prepared in accordance with U.S. Generally Accepted Accounting
Principles (&#8220;U.S. GAAP&#8221;), applied on a consistent basis during the periods involved, except as may be otherwise specified
in such financial statements or the notes thereto and except that unaudited financial statements may not contain all footnotes required
by U.S. GAAP, and fairly present in all material respects the financial position of the Company and its consolidated Subsidiaries as
of and for the dates thereof and the results of operations and cash flows for the periods then ended, subject, in the case of unaudited
statements, to normal, year-end audit adjustments. The agreements and documents described in the SEC Reports conform in all material
respects to the descriptions thereof contained therein and there are no agreements or other documents required by the Securities Act
and the rules and regulations thereunder to be described in the SEC Reports or to be filed with the Commission as exhibits to the Registration
Statement, that have not been so described or filed. Each agreement or other instrument (however characterized or described) to which
the Company is a party or by which it is or may be bound or affected and (i) that is referred to in the SEC Reports, or (ii) is material
to the Company&#8217;s business, has been duly authorized and validly executed by the Company, is in full force and effect in all material
respects and is enforceable against the Company and, to the Company&#8217;s knowledge, the other parties thereto, in accordance with
its terms, except (x) as such enforceability may be limited by bankruptcy, insolvency, reorganization or similar laws affecting creditors&#8217;
rights generally, (y) as enforceability of any indemnification or contribution provision may be limited under the federal and state securities
laws, and (z) that the remedy of specific performance and injunctive and other forms of equitable relief may be subject to the equitable
defenses and to the discretion of the court before which any proceeding therefore may be brought. None of such agreements or instruments
has been assigned by the Company, and neither the Company nor, to the best of the Company&#8217;s knowledge, any other party is in default
thereunder and, to the best of the Company&#8217;s knowledge, no event has occurred that, with the lapse of time or the giving of notice,
or both, would constitute a default thereunder. To the best of the Company&#8217;s knowledge, performance by the Company of the material
provisions of such agreements or instruments will not result in a violation of any existing applicable law, rule, regulation, judgment,
order or decree of any governmental agency or court, domestic or foreign, having jurisdiction over the Company or any of its assets or
businesses, including, without limitation, those relating to environmental laws and regulations, except for such violations that would
not reasonably be expected to result in a Material Adverse Effect.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 41pt; text-align: justify; text-indent: 38.5pt">(j)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt"><U>Material Changes; Undisclosed Events, Liabilities or Developments</U></FONT>. Since the date
of the latest audited financial statements included within the SEC Reports, except as specifically disclosed in a subsequent SEC Report
filed prior to the date hereof: (i) there has been no event, occurrence or development that has had or that would reasonably be expected
to result in a Material Adverse Effect, (ii) the Company has not incurred any liabilities (contingent or otherwise) that are material
to the Company other than (A) trade payables and accrued expenses incurred in the ordinary course of business consistent with past practice
and (B) liabilities not required to be reflected in the Company&#8217;s financial statements pursuant to U.S. GAAP or disclosed in the
SEC Reports, (iii) the Company has not altered its method of accounting, (iv) the Company has not declared or made any dividend or distribution
of cash or other property to its shareholders or purchased, redeemed or made any agreements to purchase or redeem any shares of its capital
stock, (v) the Company has not issued any equity securities to any officer, director or Affiliate, except pursuant to existing Company
stock option plans, and (vi) except as disclosed in the Registration Statement, no officer or director of the Company has resigned from
any position with the Company. The Company does not have pending before the Commission any request for confidential treatment of information.
Except for the issuance of the Shares contemplated by this Agreement, no event, liability, fact, circumstance, occurrence or development
has occurred or exists or is reasonably expected to occur or exist with respect to the Company or its Subsidiaries or their respective
businesses, properties, operations, assets or financial condition that would be required to be disclosed by the Company under applicable
securities laws at the time this representation is made or deemed made that has not been publicly disclosed at least one (1) Trading
Day prior to the date that this representation is made. Unless otherwise disclosed in the SEC Reports filed prior to the date hereof,
the Company has not: (i) issued any securities or incurred any liability or obligation, direct or contingent, for borrowed money; or
(ii) declared or paid any dividend or made any other distribution on or in respect to its capital stock</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 41pt; text-align: justify; text-indent: 38.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.75pt 0pt 41pt; text-align: justify; text-indent: 0.5in">(k) <FONT STYLE="font-size: 10pt"><U>Litigation</U></FONT>.
Except as disclosed in the Registration Statement, there is no action, suit, inquiry, notice of violation or proceeding pending or, to
the knowledge of the Company, investigation pending, or action, suit, inquiry, notice of violation, proceeding or investigation threatened
against or affecting the Company, any Subsidiary or any of their respective properties before or by any court, arbitrator, governmental
or administrative agency or regulatory authority (federal, state, county, local or foreign) (collectively, an &#8220;<FONT STYLE="font-size: 10pt"><U>Action</U></FONT>&#8221;)
which (i) adversely affects or challenges the legality, validity or enforceability of any of the Transaction Documents or the Shares
or (ii) would, if there were an unfavorable decision, have or reasonably be expected to result in a Material Adverse Effect. Neither
the Company nor any Subsidiary, nor to the knowledge of the Company after inquiry, any director or officer thereof, is or has been the
subject of any Action involving a claim of violation of or liability under federal or state securities laws or a claim of breach of fiduciary
duty, which would, if there were an unfavorable decision rendered, have or reasonably be expected to result in, a Material Adverse Effect.
There has not been, and to the knowledge of the Company, there is not pending or contemplated, any investigation by the Commission involving
the Company or any current or former director or officer of the Company. The Commission has not issued any stop order or other order
suspending the effectiveness of the Registration Statement.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 41pt; text-align: justify; text-indent: 38.5pt">(l)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;
</FONT><FONT STYLE="font-size: 10pt"><U>Labor Relations</U></FONT>. No labor dispute exists or, to the knowledge of the Company, is imminent
with respect to any of the employees of the Company or its Subsidiaries, which could reasonably be expected to result in a Material Adverse
Effect. None of the Company&#8217;s or its Subsidiaries&#8217; employees is a member of a union that relates to such employee&#8217;s
relationship with the Company or such Subsidiary, and neither the Company nor any of its Subsidiaries is a party to a collective bargaining
agreement, and the Company and its Subsidiaries believe that their relationships with their employees are good. To the knowledge of the
Company, no executive officer of the Company or any Subsidiary, is, or is now expected to be, in violation of any material term of any
employment contract, confidentiality, disclosure or proprietary information agreement or non-competition agreement, or any other contract
or agreement or any restrictive covenant in favor of any third party, and the continued employment of each such executive officer does
not subject the Company or any of its Subsidiaries to any liability with respect to any of the foregoing matters. The Company and its
Subsidiaries are in compliance with all Cayman, Chinese and all applicable U.S. federal, state and local and laws and regulations relating
to employment and employment practices, terms and conditions of employment and wages and hours, except where the failure to be in compliance
would not, individually or in the aggregate, have or reasonably be expected to result in a Material Adverse Effect.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 41pt; text-align: justify; text-indent: 0.5in">(m) <FONT STYLE="font-size: 10pt"><U>Compliance</U></FONT>.
Neither the Company nor any Subsidiary: (i) is in default under or in violation of (and no event has occurred that has not been waived
that, with notice or lapse of time or both, would result in a default by the Company or any Subsidiary under), nor has the Company or
any Subsidiary received notice of a claim that it is in default under or that it is in violation of, any indenture, loan or credit agreement
or any other agreement or instrument to which it is a party or by which it or any of its properties is bound (whether or not such default
or violation has been waived), (ii) is in violation of any judgment, decree or order of any court, arbitrator or other governmental authority
or (iii) is or has been in violation of any statute, rule, ordinance or regulation of any governmental authority, including without limitation
all foreign, federal, state and local laws relating to taxes, environmental protection, occupational health and safety, product quality
and safety and employment and labor matters, except in each case as would not have or reasonably be expected to result in a Material
Adverse Effect.</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 5.7pt 0pt 41pt; text-align: justify; text-indent: 0.5in">(n)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;
</FONT><FONT STYLE="font-size: 10pt"><U>Regulatory Permits</U></FONT>. The Company and the Subsidiaries possess all certificates, authorizations
and permits issued by the appropriate federal, state, local or foreign regulatory authorities necessary to conduct their respective businesses
as described in the SEC Reports, except where the failure to possess such permits would not have or reasonably be expected to result
in a Material Adverse Effect (each, a &#8220;<FONT STYLE="font-size: 10pt"><U>Material Permit</U></FONT>&#8221;), and neither the Company
nor any Subsidiary has received any notice of proceedings relating to the revocation or modification of any Material Permit. The disclosures
in the Registration Statement concerning the effects of Federal, State, local and all foreign regulation on the Company&#8217;s business
as currently contemplated are correct in all material respects.</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 5.75pt 0pt 41pt; text-align: justify; text-indent: 0.5in">(o)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;
</FONT><FONT STYLE="font-size: 10pt"><U>Title to Assets</U></FONT>. The Company and the Subsidiaries have good and marketable title in
fee simple to, or have valid and marketable rights to lease or otherwise use, all real property and all personal property that is material
to the business of the Company and the Subsidiaries, in each case free and clear of all Liens, except for (i) Liens that do not materially
affect the value of such property and do not materially interfere with the use made and proposed to be made of such property by the Company
and the Subsidiaries and (ii) Liens for the payment of federal, state or other taxes, for which appropriate reserves have been made in
accordance with U.S. GAAP, and the payment of which is neither delinquent nor subject to penalties. Any real property and facilities
held under lease by the Company and the Subsidiaries are held by them under valid, subsisting and enforceable leases with which the Company
and the Subsidiaries are in compliance in all material respects.</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: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 41pt; text-align: justify; text-indent: 38.5pt">(p)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;
</FONT><FONT STYLE="font-size: 10pt"><U>Intellectual Property</U></FONT>. The Company and the Subsidiaries have, or have rights to use,
all patents, patent applications, trademarks, trademark applications, service marks, trade names, trade secrets, inventions, copyrights,
licenses and other intellectual property rights and similar rights necessary or required for use in connection with their respective
businesses as described in the SEC Reports and which the failure to do so could have a Material Adverse Effect (collectively, the &#8220;<FONT STYLE="font-size: 10pt"><U>Intellectual
Property Rights</U></FONT>&#8221;). Except as provided in writing to the Underwriter, neither the Company nor any Subsidiary has received
written notice that any of the Intellectual Property Rights has expired, terminated or been abandoned, or is expected to expire or terminate
or be abandoned, within two (2) years from the date of this Agreement. Neither the Company nor any Subsidiary has received, since the
date of the latest audited financial statements included within the SEC Reports, a notice (written or otherwise) of a claim or otherwise
has any knowledge that the Intellectual Property Rights violate or infringe upon the rights of any Person. To the knowledge of the Company,
all such Intellectual Property Rights are enforceable and there is no existing infringement by another Person of any of the Intellectual
Property Rights, other than would not reasonably result in a Material Adverse Effect. The Company and its Subsidiaries have taken reasonable
security measures to protect the secrecy, confidentiality and value of all of their intellectual properties, except where failure to
do so would not, individually or in the aggregate, have or reasonably be expected to result in a Material Adverse Effect.</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 5.7pt 0pt 41pt; text-align: justify; text-indent: 0.5in">(q)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;
</FONT><FONT STYLE="font-size: 10pt"><U>Insurance</U></FONT>. The Company and the Subsidiaries are insured by insurers of recognized
financial responsibility against such losses and risks and in such amounts as are prudent and customary in the businesses in which the
Company and the Subsidiaries are engaged, including, but not limited to, directors and officers insurance coverage. Neither the Company
nor any Subsidiary has any reason to believe that it will not be able to renew its existing insurance coverage as and when such coverage
expires or to obtain similar coverage from similar insurers as may be necessary to continue its business without a significant increase
in cost.</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 5.65pt 0pt 41pt; text-align: justify; text-indent: 0.5in">(r)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;
</FONT><FONT STYLE="font-size: 10pt"><U>Transactions With Affiliates and Employees</U></FONT>. Except as set forth or incorporated by
reference in the Registration Statement, none of the officers or directors of the Company or any Subsidiary and to the knowledge of the
Company, none of the employees of the Company or any Subsidiary is presently a party to any transaction with the Company or any Subsidiary
(other than for services as employees, officers and directors), including any contract, agreement or other arrangement providing for
the furnishing of services to or by, providing for rental of real or personal property to or from, providing for the borrowing of money
from or lending of money to or otherwise requiring payments to or from, any officer, director or such employee or, to the knowledge of
the Company, any entity in which any officer, director, or any such employee has a substantial interest or is an officer, director, trustee,
shareholder, member or partner, in each case in excess of $120,000 or for (i) payment of salary or consulting fees for services rendered,
(ii) reimbursement for expenses incurred on behalf of the Company and (iii) other employee benefits, including stock option agreements
under any stock option plan of the Company.</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 5.7pt 0pt 41pt; text-align: justify; text-indent: 38.5pt">(s)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;
</FONT><FONT STYLE="font-size: 10pt"><U>Reserved</U></FONT>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.7pt 0pt 41pt; text-align: justify; text-indent: 38.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.7pt 0pt 41pt; text-align: justify; text-indent: 0.5in">(t)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;</FONT><FONT STYLE="font-size: 10pt"><U>Certain
Fees</U></FONT>. Except as set forth in the Prospectus, no brokerage or finder&#8217;s fees or commissions are or will be payable by
the Company, any Subsidiary or Affiliate of the Company to any broker, financial advisor or consultant, finder, placement agent, investment
banker, bank or other Person with respect to the transactions contemplated by the Transaction Documents. To the Company&#8217;s knowledge
and except as set forth in the Registration Statement, there are no other arrangements, agreements or understandings of the Company or,
to the Company&#8217;s knowledge, any of its shareholders that may affect the Underwriters&#8217; compensation, as determined by FINRA.
Except as set forth in the Registration Statement, the Company has not made any direct or indirect payments (in cash, securities or otherwise)
in connection with the Offering to: (i) any person, as a finder&#8217;s fee, consulting fee or otherwise, in consideration of such person
raising capital for the Company or introducing to the Company persons who raised or provided capital to the Company; (ii) any FINRA member;
or (iii) any person or entity that has any direct or indirect affiliation or association with any FINRA member, within the twelve months
prior to the Execution Date, other than the prior payments to the Representative in connection with the Company&#8217;s public offering
of securities in March 2021. Except as set forth in the Registration Statement, none of the net proceeds of the Offering will be paid
by the Company to any participating FINRA member or its affiliates, except as specifically authorized herein.</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: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.75pt 0pt 41pt; text-align: justify; text-indent: 0.5in">(u)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt"><U>Investment Company</U></FONT>. The Company is not, and is not an Affiliate of, and immediately
after receipt of payment for the Firm Shares will not be or be an Affiliate of, an &#8220;investment company&#8221; within the meaning
of the Investment Company Act of 1940, as amended. The Company shall conduct its business in a manner so that it will not become an &#8220;investment
company&#8221; subject to registration under the Investment Company Act of 1940, as amended.</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 5.75pt 0pt 41pt; text-align: justify; text-indent: 0.5in">(v)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt"><U>Registration Rights</U></FONT>. No Person has any right to cause the Company or any Subsidiary
to effect the registration under the Securities Act of any securities of the Company or any Subsidiary.</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 5.75pt 0pt 41pt; text-align: justify; text-indent: 0.5in">(w)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;
</FONT><FONT STYLE="font-size: 10pt"><U>Listing and Maintenance Requirements</U></FONT>. The Ordinary Shares are registered pursuant
to Section 12(b) of the Exchange Act, and the Company has taken no action designed to, or which to its knowledge is likely to have the
effect of, terminating the registration of the Ordinary Shares under the Exchange Act nor has the Company received any notification that
the Commission is contemplating terminating such registration.</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 5.75pt 0pt 41pt; text-align: justify; text-indent: 0.5in">(x)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;
</FONT><FONT STYLE="font-size: 10pt"><U>Application of Takeover Protections</U></FONT>. The Company and the Board of Directors have taken
all necessary action, if any, in order to render inapplicable any control share acquisition, business combination, poison pill (including
any distribution under a rights agreement) or other similar anti-takeover provision under the Company&#8217;s certificate of incorporation
(or similar charter documents) or the laws of its state of incorporation that is or could become applicable as a result of the Underwriters
and the Company fulfilling their obligations or exercising their rights under the Transaction Documents.</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 5.7pt 0pt 41pt; text-align: justify; text-indent: 38.5pt">(y)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt"><U>Disclosure; 10b-5</U></FONT>. Each of the Registration Statement and any post-effective amendment
thereto, at the time it became effective, complied in all material respects with the requirements of the Securities Act and the Securities
Act regulations. Each Preliminary Prospectus, including the Base Prospectus filed as part of the Registration Statement as originally
filed or as part of any amendment or supplement thereto, and the Prospectus, at the time each was filed with the Commission, complied
in all material respects with the requirements of the Securities Act and the Securities Act regulations. Each Preliminary Prospectus
delivered to the Underwriters for use in connection with this Offering and the Prospectus was or will be identical to the electronically
transmitted copies thereof filed with the Commission pursuant to EDGAR, except to the extent permitted by Regulation S-T.</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 5.65pt 0pt 41pt; text-align: justify; text-indent: 0.5in">Neither the
Registration Statement nor any amendment thereto, at its effective time, as of the Applicable Time, at the Closing Date or at any Over-Allotment
Closing Date (if any), contained, contains or will contain an untrue statement of a material fact or omitted, omits or will omit to state
a material fact required to be stated therein or necessary to make the statements therein not misleading.</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 5.75pt 0pt 41pt; text-align: justify; text-indent: 0.5in">The Pricing
Disclosure Package, as of the Applicable Time, at the Closing Date or at any Over-Allotment Closing Date (if any), did not, does not
and will not include an untrue statement of a material fact or omit to state a material fact necessary in order to make the statements
therein, in the light of the circumstances under which they were made, not misleading; and each free writing prospectus hereto does not
conflict with the information contained in the Registration Statement, any Preliminary Prospectus, the Pricing Prospectus or the Prospectus,
and each such free writing prospectus, as supplemented by and taken together with the Pricing Prospectus as of the Applicable Time, did
not include an untrue statement of a material fact or omit to state a material fact necessary in order to make the statements therein,
in the light of the circumstances under which they were made, not misleading.</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: 10pt Times New Roman, Times, Serif; margin: 0pt 5.75pt 0pt 41pt; text-align: justify; text-indent: 0.5in">Neither the
Prospectus nor any amendment or supplement thereto (including any prospectus wrapper), as of its issue date, at the time of any filing
with the Commission pursuant to Rule 424(b), at the Closing Date or at any Over-Allotment Closing Date, included, includes or will include
an untrue statement of a material fact or omitted, omits or will omit to state a material fact necessary in order to make the statements
therein, in the light of the circumstances under which they were made, not misleading.</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 5.65pt 0pt 41pt; text-align: justify; text-indent: 0.5in">The documents
incorporated by reference in the Registration Statement, the Pricing Disclosure Package and the Prospectus, when they became effective
or were filed with the Commission, as the case may be, conformed in all material respects to the requirements of the Securities Act or
the Exchange Act, as applicable, and the rules and regulations of the Commission thereunder and none of such documents contained any
untrue statement of a material fact or omitted to state any material fact required to be stated therein or necessary to make the statements
therein, in the light of the circumstances under which they were made, not misleading; and any further documents so filed and incorporated
by reference in the Registration Statement, the Pricing Disclosure Package and the Prospectus, when such documents become effective or
are filed with the Commission, as the case may be, will conform in all material respects to the requirements of the Securities Act or
the Exchange Act, as applicable, and the rules and regulations of the Commission thereunder, and will not contain any untrue statement
of a material fact or omit to state any material fact required to be stated therein or necessary to make the statements therein, in the
light of the circumstances under which they were made, not misleading.</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 5.7pt 0pt 41pt; text-align: justify; text-indent: 38.5pt">(aa) <FONT STYLE="font-size: 10pt"><U>No
Integrated Offering</U></FONT>. Neither the Company, nor any of its Affiliates, nor any Person acting on its or their behalf has, directly
or indirectly, made any offers or sales of any security or solicited any offers to buy any security, under circumstances that would cause
this offering of the Firm Shares to be integrated with prior offerings by the Company for purposes of any applicable shareholder approval
provisions of any Trading Market on which any of the securities of the Company are listed or designated.</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 5.6pt 0pt 41pt; text-align: justify; text-indent: 0.5in">(bb) <FONT STYLE="font-size: 10pt"><U>Solvency</U></FONT>.
Based on the consolidated financial condition of the Company as of the Closing Date, after giving effect to the receipt by the Company
of the proceeds from the sale of the Firm Shares hereunder, (i) the fair saleable value of the Company&#8217;s assets exceeds the amount
that will be required to be paid on or in respect of the Company&#8217;s existing debts and other liabilities (including known contingent
liabilities) as they mature, (ii) the Company&#8217;s assets do not constitute unreasonably small capital to carry on its business as
now conducted and as proposed to be conducted including its capital needs taking into account the particular capital requirements of
the business conducted by the Company, consolidated and projected capital requirements and capital availability thereof, and (iii) the
current cash flow of the Company, together with the proceeds the Company would receive, were it to liquidate all of its assets, after
taking into account all anticipated uses of the cash, would be sufficient to pay all amounts on or in respect of its liabilities when
such amounts are required to be paid. The Company does not intend to incur debts beyond its ability to pay such debts as they mature
(taking into account the timing and amounts of cash to be payable on or in respect of its debt). The Company has no knowledge of any
facts or circumstances which lead it to believe that it will file for reorganization or liquidation under the bankruptcy or reorganization
laws of any jurisdiction within one year from the Closing Date. The Registration Statement sets forth as of the date hereof all outstanding
secured and unsecured Indebtedness of the Company or any Subsidiary, or for which the Company or any Subsidiary has commitments. Neither
the Company nor any Subsidiary is in default with respect to any Indebtedness.</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: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.7pt 0pt 41pt; text-align: justify; text-indent: 0.5in">(cc) <FONT STYLE="font-size: 10pt"><U>Tax
Status</U></FONT>. Except for matters that would not, individually or in the aggregate, have or reasonably be expected to result in a
Material Adverse Effect, the Company and its Subsidiaries each (i) has made or filed all material United States federal, state and local
income and all Cayman and foreign income and franchise tax returns, reports and declarations required by any jurisdiction to which it
is subject, (ii) has paid all material taxes and other governmental assessments and charges that are material in amount, shown or determined
to be due on such returns, reports and declarations and (iii) has set aside on its books provision reasonably adequate for the payment
of all material taxes for periods subsequent to the periods to which such returns, reports or declarations apply. There are no unpaid
taxes in any material amount claimed to be due by the taxing authority of any jurisdiction, and the officers of the Company or of any
Subsidiary know of no basis for any such claim. The provisions for taxes payable, if any, shown on the financial statements filed with
or as part of the Registration Statement are sufficient for all accrued and unpaid taxes, whether or not disputed, and for all periods
to and including the dates of such consolidated financial statements. The term &#8220;taxes&#8221; mean all federal, state, local, foreign,
and other net income, gross income, gross receipts, sales, use, ad valorem, transfer, franchise, profits, license, lease, service, service
use, withholding, payroll, employment, excise, severance, stamp, occupation, premium, property, windfall profits, customs, duties or
other taxes, fees, assessments, or charges of any kind whatsoever, together with any interest and any penalties, additions to tax, or
additional amounts with respect thereto. The term &#8220;returns&#8221; means all returns, declarations, reports, statements, and other
documents required to be filed in respect to taxes.</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 5.65pt 0pt 41pt; text-align: justify; text-indent: 38.5pt">(dd) <FONT STYLE="font-size: 10pt"><U>Foreign
Corrupt Practices</U></FONT>. Neither the Company nor any Subsidiary, nor to the knowledge of the Company or any Subsidiary, any agent
or other person acting on behalf of the Company or any Subsidiary, has (i) directly or indirectly, used any funds for unlawful contributions,
gifts, entertainment or other unlawful expenses related to foreign or domestic political activity, (ii) made any unlawful payment to
foreign or domestic government officials or employees or to any foreign or domestic political parties or campaigns from corporate funds,
(iii) failed to disclose fully any contribution made by the Company or any Subsidiary (or made by any person acting on its behalf of
which the Company is aware) which is in violation of law, or (iv) violated in any material respect any provision of the FCPA. The Company
has taken reasonable steps to ensure that its accounting controls and procedures are sufficient to cause the Company to comply in all
material respects with the FCPA.</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 5.65pt 0pt 41pt; text-align: justify; text-indent: 0.5in">(ee) <FONT STYLE="font-size: 10pt"><U>Accountants</U></FONT>.
To the knowledge and belief of the Company, the Company Auditor is an independent registered public accounting firm as required by the
Exchange Act. To the knowledge and belief of the Company, the Company&#8217;s Auditor shall express its opinion with respect to the financial
statements to be included in the Company&#8217;s Annual Report for the fiscal year ending September 30, 2021. The Company Auditor has
not, during the periods covered by the financial statements incorporated by reference in the Prospectus, provided to the Company any
non-audit services, as such term is used in Section 10A(g) of the Exchange Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 41pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 41pt; text-align: justify; text-indent: 0.5in">(ff) <FONT STYLE="font-size: 10pt"><U>FDA</U></FONT>.
As to each product subject to the jurisdiction of the U.S. Food and Drug Administration (&#8220;<FONT STYLE="font-size: 10pt"><U>FDA</U></FONT>&#8221;)
under the Federal Food, Drug and Cosmetic Act, as amended, and the regulations thereunder (&#8220;<FONT STYLE="font-size: 10pt"><U>FDCA</U></FONT>&#8221;)
that is manufactured, packaged, labeled, tested, distributed, sold, and/or marketed by the Company or any of its Subsidiaries (each such
product, a &#8220;<FONT STYLE="font-size: 10pt"><U>Pharmaceutical Product</U></FONT>&#8221;), such Pharmaceutical Product is being manufactured,
packaged, labeled, tested, distributed, sold and/or marketed by the Company in compliance with all applicable requirements under FDCA
and similar laws, rules and regulations relating to registration, investigational use, premarket clearance, licensure, or application
approval, good manufacturing practices, good laboratory practices, good clinical practices, product listing, quotas, labeling, advertising,
record keeping and filing of reports, except where the failure to be in compliance would not have, or reasonably be expected to result
in, a Material Adverse Effect. There is no pending, completed or, to the Company&#8217;s knowledge, threatened, action (including any
lawsuit, arbitration, or legal or administrative or regulatory proceeding, charge, complaint, or investigation) against the Company or
any of its Subsidiaries, and none of the Company or any of its Subsidiaries has received any notice, warning letter or other communication
from the FDA or any other governmental entity, which (i) contests the premarket clearance, licensure, registration, or approval of, the
uses of, the distribution of, the manufacturing or packaging of, the testing of, the sale of, or the labeling and promotion of any Pharmaceutical
Product, (ii) withdraws its approval of, requests the recall, suspension, or seizure of, or withdraws or orders the withdrawal of advertising
or sales promotional materials relating to, any Pharmaceutical Product, (iii) imposes a clinical hold on any clinical investigation by
the Company or any of its Subsidiaries, (iv) enjoins production at any facility of the Company or any of its Subsidiaries, (v) enters
or proposes to enter into a consent decree of permanent injunction with the Company or any of its Subsidiaries, or (vi) otherwise alleges
any violation of any laws, rules or regulations by the Company or any of its Subsidiaries, and which, either individually or in the aggregate,
would have, or reasonably be expected to result in, a Material Adverse Effect. The properties, business and operations of the Company
have been and are being conducted in all material respects in accordance with all applicable laws, rules and regulations of the FDA.
The Company has not been informed by the FDA that the FDA will prohibit the marketing, sale, license or use in the United States of any
product proposed to be developed, produced or marketed by the Company nor has the FDA expressed any concern as to approving or clearing
for marketing any product being developed or proposed to be developed by the Company.</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: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.75pt 0pt 41pt; text-align: justify; text-indent: 0.5in">(gg) Each option
granted by the Company under the Company&#8217;s share option plans was granted (i) in accordance with the terms of the Company&#8217;s
share option plan and (ii) with an exercise price at least equal to the fair market value of the Ordinary Shares on the date such option
would be considered granted under U.S. GAAP and applicable law other than which would not result in a Material Adverse Effect. No option
granted under the Company&#8217;s share option plan has been backdated. The Company has not knowingly granted, and there is no and has
been no Company policy or practice to knowingly grant, options prior to, or otherwise knowingly coordinate the grant of options with,
the release or other public announcement of material information regarding the Company or its Subsidiaries or their financial results
or prospects.</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 5.75pt 0pt 41pt; text-align: justify; text-indent: 0.5in">(hh) <FONT STYLE="font-size: 10pt"><U>Office
of Foreign Assets Control</U></FONT>. Neither the Company nor any Subsidiary nor, to the Company&#8217;s knowledge, any director, officer,
agent, employee or affiliate of the Company or any Subsidiary is currently subject to any U.S. sanctions administered by the Office of
Foreign Assets Control of the U.S. Treasury Department.</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 5.7pt 0pt 41pt; text-align: justify; text-indent: 0.5in">(ii) <FONT STYLE="font-size: 10pt"><U>U.S.
Real Property Holding Corporation</U></FONT>. The Company is not and has never been a U.S. real property holding corporation within the
meaning of Section 897 of the Internal Revenue Code of 1986, as amended, and the Company shall so certify upon the Representative&#8217;s
reasonable request.</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 5.7pt 0pt 41pt; text-align: justify; text-indent: 0.5in">(jj) <FONT STYLE="font-size: 10pt"><U>Bank
Holding Company Act</U></FONT>. Neither the Company nor any of its Subsidiaries or Affiliates is subject to the Bank Holding Company
Act of 1956, as amended (the &#8220;<FONT STYLE="font-size: 10pt"><U>BHCA</U></FONT>&#8221;) and to regulation by the Board of Governors
of the Federal Reserve System (the &#8220;<FONT STYLE="font-size: 10pt"><U>Federal Reserve</U></FONT>&#8221;). Neither the Company nor
any of its Subsidiaries or Affiliates owns or controls, directly or indirectly, five percent (5%) or more of the outstanding shares of
any class of voting securities or twenty-five percent (25%) or more of the total equity of a bank or any entity that is subject to the
BHCA and to regulation by the Federal Reserve. Neither the Company nor any of its Subsidiaries or Affiliates exercises a controlling
influence over the management or policies of a bank or any entity that is subject to the BHCA and to regulation by the Federal Reserve.</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: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.75pt 0pt 41pt; text-align: justify; text-indent: 38.5pt">(kk) <FONT STYLE="font-size: 10pt"><U>Money
Laundering</U></FONT>. The operations of the Company and its Subsidiaries are and have been conducted at all times in compliance with
applicable financial record-keeping and reporting requirements of the Currency and Foreign Transactions Reporting Act of 1970, as amended,
and applicable money laundering statutes and applicable rules and regulations thereunder, and applicable money laundering statutes and
applicable rules and regulations thereunder (collectively, the &#8220;<FONT STYLE="font-size: 10pt"><U>Money Laundering Laws</U></FONT>&#8221;),
and no action, suit or proceeding by or before any court or governmental agency, authority or body or any arbitrator involving the Company
or any Subsidiary with respect to the Money Laundering Laws is pending or, to the knowledge of the Company or any Subsidiary, threatened.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.8pt 0pt 41pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.8pt 0pt 41pt; text-align: justify; text-indent: 0.5in">(ll) <FONT STYLE="font-size: 10pt"><U>D&amp;O
Questionnaires</U></FONT>. To the Company&#8217;s knowledge, all information contained in the questionnaires completed by each of the
Company&#8217;s directors and executive officers prior to the Offering and in the Lock-Up Agreement provided to the Underwriters is true
and correct in all respects and the Company has not become aware of any information which would cause the information disclosed in such
questionnaires become inaccurate and incorrect.</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 5.7pt 0pt 41pt; text-align: justify; text-indent: 0.5in">(mm) <FONT STYLE="font-size: 10pt"><U>FINRA
Affiliation</U></FONT>. No executive officer, director or, to the Company&#8217;s knowledge, any beneficial owner of 5% or more of the
Company&#8217;s outstanding Ordinary Shares or Ordinary Share Equivalents has any direct or indirect affiliation or association with
any FINRA member (as determined in accordance with the rules and regulations of FINRA) that is participating in the Offering. The Company
will advise the Representative and SRF if it learns that any officer, director or owner of 5% or more of the Company&#8217;s outstanding
Ordinary Shares or Ordinary Share Equivalents is or becomes an affiliate or associated person of a FINRA member firm.</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 5.65pt 0pt 41pt; text-align: justify; text-indent: 0.5in">(nn) <FONT STYLE="font-size: 10pt"><U>Officers&#8217;
Certificate</U></FONT>. Any certificate signed by any duly authorized officer of the Company and delivered to the Representative or SRF
shall be deemed a representation and warranty by the Company to the Underwriters as to the matters covered thereby.</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 5.7pt 0pt 41pt; text-align: justify; text-indent: 0.5in">(oo) <FONT STYLE="font-size: 10pt"><U>Board
of Directors</U></FONT>. The Board of Directors is comprised of the persons set forth in the SEC Reports incorporated by reference into
the Registration Statement. The qualifications of the persons serving as board members and the overall composition of the Board of Directors
comply with the Sarbanes-Oxley Act of 2002 and the rules promulgated thereunder applicable to the Company and the rules promulgated thereunder,
and the rules of the Trading Market. At least one member of the Board of Directors qualifies as a &#8220;financial expert&#8221; as such
term is defined under the Sarbanes-Oxley Act of 2002 and the rules promulgated thereunder and the rules of the Trading Market.</P>

<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 47.65pt 0pt 46.65pt; text-align: center">ARTICLE IV.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 47.65pt 0pt 46.65pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>OTHER
AGREEMENTS OF THE PARTIES</B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.7pt 0pt 5pt; text-align: justify; text-indent: 0.5in">4.1<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;
</FONT><FONT STYLE="font-size: 10pt"><U>Amendments to Registration Statement</U></FONT>. The Company has delivered, or will as promptly
as practicable deliver, to the Underwriters complete conformed copies of the Registration Statement and of each consent and certificate
of experts, as applicable, filed as a part thereof, and conformed copies of the Registration Statement (without exhibits) and the Prospectus,
as amended or supplemented, in such quantities and at such places as an Underwriter reasonably requests. Neither the Company nor any
of its directors and officers has distributed and none of them will distribute, prior to the Closing Date, any offering material in connection
with the offering and sale of the Firm Shares other than the Preliminary Prospectus, the Registration Statement, and copies of the documents
incorporated by reference therein, and any Permitted Free Writing Prospectus (as defined below). The Company shall not file any such
amendment or supplement to which the Representative shall reasonably object in writing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.7pt 0pt 5pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.7pt 0pt 5pt; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.7pt 0pt 5pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 40.95pt"></TD><TD STYLE="width: 15.15pt">4.2</TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><U>Federal
                                            Securities Laws</U></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 5.65pt 0pt 41pt; text-align: justify; text-indent: 0.5in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;
</FONT><FONT STYLE="font-size: 10pt"><U>Compliance</U></FONT>. During the time when a Prospectus is required to be delivered under the
Securities Act, the Company will use its best efforts to comply with all requirements imposed upon it by the Securities Act and the rules
and regulations thereunder and the Exchange Act and the rules and regulations thereunder, as from time to time in force, so far as necessary
to permit the continuance of sales of or dealings in the Shares in accordance with the provisions hereof and the Prospectus. If at any
time when a Prospectus relating to the Shares is required to be delivered under the Securities Act, any event shall have occurred as
a result of which, in the opinion of counsel for the Company or counsel for the Underwriters, the Prospectus, as then amended or supplemented,
includes an untrue statement of a material fact or omits to state any material fact required to be stated therein or necessary to make
the statements therein, in light of the circumstances under which they were made, not misleading, or if it is necessary at any time to
amend the Prospectus to comply with the Securities Act, the Company will notify the Underwriters promptly and prepare and file with the
Commission, subject to Section 4.1 hereof, an appropriate amendment or supplement in accordance with Section 10 of the Securities 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 5.85pt 0pt 41pt; text-align: justify; text-indent: 0.5in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;
</FONT><FONT STYLE="font-size: 10pt"><U>Filing of Prospectus</U></FONT>. The Company will file the Prospectus (in form and substance
satisfactory to the Representative) with the Commission pursuant to the requirements of Rule 424.</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 5.6pt 0pt 41pt; text-align: justify; text-indent: 0.5in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;
</FONT><FONT STYLE="font-size: 10pt"><U>Exchange Act Registration</U></FONT>. For a period of three years from the Closing Date, the
Company will use its best efforts to maintain the registration of the Ordinary Shares under the Exchange Act. For a period of three years
from the Closing Date, the Company will not deregister the Ordinary Shares under the Exchange Act without the prior written consent of
the Representative, which consent shall not unreasonably be withheld.</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 5.6pt 0pt 41pt; text-align: justify; text-indent: 0.5in">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;
</FONT><FONT STYLE="font-size: 10pt"><U>Free Writing Prospectuses</U></FONT>. The Company represents and agrees that it has not made
and will not make any offer relating to the Firm Shares that would constitute an issuer free writing prospectus, as defined in Rule 433
of the rules and regulations under the Securities Act, without the prior written consent of the Representative. Any such free writing
prospectus consented to by the Representative is hereinafter referred to as a <FONT STYLE="font-size: 10pt"><B>&#8220;</B><U>Permitted
Free Writing Prospectus</U></FONT>.&#8221; The Company represents that it will treat each Permitted Free Writing Prospectus as an &#8220;issuer
free writing prospectus&#8221; as defined in rule and regulations under the Securities Act, and has complied and will comply with the
applicable requirements of Rule 433 of the Securities Act, including timely Commission filing where required, legending and record keeping.</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 5.7pt 0pt 5pt; text-align: justify; text-indent: 0.5in">4.3<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt"><U>Delivery to the Underwriters of Prospectuses</U></FONT>. The Company will deliver to the Underwriters,
without charge, from time to time during the period when the Prospectus is required to be delivered under the Securities Act or the Exchange
Act such number of copies of each Prospectus as the Underwriters may reasonably request and, as soon as the Registration Statement becomes
effective, upon reasonable request by the Underwriters, deliver to you two original executed Registration Statements including exhibits,
and all post-effective amendments thereto and copies of all exhibits filed therewith or incorporated therein by reference and all original
executed consents of certified 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 5.75pt 0pt 5pt; text-align: justify; text-indent: 0.5in">4.4<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;
</FONT><FONT STYLE="font-size: 10pt"><U>Effectiveness and Events Requiring Notice to the Underwriters</U></FONT>. The Company will use
its best efforts to cause the Registration Statement to remain effective with a current prospectus, and will promptly notify the Underwriters
and confirm the notice in writing: (i) of the effectiveness of the Registration Statement and any amendment thereto; (ii) of the issuance
by the Commission of any stop order or of the initiation, or the threatening, of any proceeding for that purpose; (iii) of the issuance
by any state securities commission of any proceedings for the suspension of the qualification of the Shares for offering or sale in any
jurisdiction or of the initiation, or the threatening, of any proceeding for that purpose; (iv) of the mailing and delivery to the Commission
for filing of any amendment or supplement to the Registration Statement or Prospectus; (v) of the receipt of any comments or request
for any additional information from the Commission; and (vi) of the happening of any event during the period described in this Section
4.4 that, in the judgment of the Company, makes any statement of a material fact made in the Registration Statement or the Prospectus
untrue or that requires the making of any changes in the Registration Statement or the Prospectus in order to make the statements therein,
in light of the circumstances under which they were made, not misleading. If the Commission or any state securities commission shall
enter a stop order or suspend such qualification at any time, the Company will make every reasonable effort to obtain promptly the lifting
of such order.</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: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 40.95pt"></TD><TD STYLE="width: 15.15pt">4.5</TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><U>Reports
                                            to the Underwriters</U></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 5.65pt 0pt 41pt; text-align: justify; text-indent: 0.5in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;
</FONT><FONT STYLE="font-size: 10pt"><U>Periodic Reports, etc</U></FONT>. For a period of two (2) years from the Execution Date, upon
request, and to the extent not filed with the Commission or public company reporting service, the Company will furnish or make available
to the Representative copies of such financial statements and other periodic and special reports as the Company from time to time furnishes
generally to holders of any class of its securities and also promptly furnish or make available to the Underwriters: (i) a copy of each
periodic report the Company shall be required to file with the Commission; (ii) a copy of every press release and every news item and
article with respect to the Company or its affairs which was released by the Company; (iii) a copy of each Form 6- K prepared and filed
by the Company; (iv) a copy of each registration statement filed by the Company under the Securities Act; and (v) such additional documents
and information with respect to the Company and the affairs of any future Subsidiaries of the Company as the Representative may from
time to time reasonably request; provided that the Underwriters shall each sign, if requested by the Company, a Regulation FD compliant
confidentiality agreement which is reasonably acceptable to the Representative in connection with such Underwriter&#8217;s receipt of
such information. Documents filed with the Commission pursuant to its EDGAR system shall be deemed to have been delivered to the Underwriters
pursuant to this Section.</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 5.7pt 0pt 41pt; text-align: justify; text-indent: 0.5in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;
</FONT><FONT STYLE="font-size: 10pt"><U>General Expenses Related to the Offering</U></FONT>. The Company hereby agrees to pay on each
of the Closing Date and each Over-Allotment Closing Date, if any, to the extent not paid at the Closing Date, all expenses incident to
the performance of the obligations of the Company under this Agreement, including, but not limited to: (a) all filing fees and communication
expenses relating to the registration of the securities to be sold in the Offering (including the Over-Allotment Shares) with the Commission;
(b) all FINRA Public Offering Filing System fees associated with the review of the Offering by FINRA; (c) all fees and expenses relating
to the listing of such Closing Shares and Over-Allotment Shares on the Trading Market and such other stock exchanges as the Company and
the Representative together determine; (d) all fees, expenses and disbursements relating to the registration or qualification of such
securities under the &#8220;blue sky&#8221; securities laws of such states and other foreign jurisdictions as the Representative may
reasonably designate the costs, if any, of all mailing and printing of the underwriting documents (including, without limitation, this
Agreement, any Blue Sky Surveys and, if appropriate, any Agreement Among Underwriters, Selected Dealers&#8217; Agreement, Underwriters&#8217;
Questionnaire and Power of Attorney), Registration Statements, Prospectuses and all amendments, supplements and exhibits thereto and
as many preliminary and final Prospectuses as the Representative may reasonably deem necessary; (e) the costs of preparing, printing
and delivering the securities; (f) fees and expenses of the Transfer Agent for the securities (including, without limitation, any fees
required for same-day processing of any instruction letter delivered by the Company); (g) stock transfer and/or stamp taxes, if any,
payable upon the transfer of securities from the Company to the Underwriters; (h) the fees and expenses of the Company&#8217;s accountants;
and (i) a maximum of $100,000 for fees and expenses including &#8220;road show&#8221;, diligence and reasonable legal fees and disbursements
for Underwriters&#8217; counsel. The Underwriters may also deduct from the net proceeds of the Offering payable to the Company on the
Closing Date, or each Over-Allotment Closing Date, if any, the expenses set forth herein to be paid by the Company to the Underwriters.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.7pt 0pt 41pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.7pt 0pt 41pt; text-align: justify; text-indent: 0in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.7pt 0pt 41pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.7pt 0pt 41pt; text-align: justify; text-indent: 0.5in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;
</FONT><FONT STYLE="font-size: 10pt"><U>Non-accountable Expenses</U></FONT>. The Company further agrees that, in addition to the expenses
payable pursuant to Section 4.5(b), on each of the Closing Date and Over-Allotment Closing Date, it shall pay to the Underwriters, by
deduction from the net proceeds of the Offering contemplated herein, a non-accountable expense allowance equal to one percent (1.0%)
of the gross proceeds received by the Company from the sale of the Firm Shares and Over-Allotment Shares on the respective dates.</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 5.7pt 0pt 5pt; text-align: justify; text-indent: 0.5in">4.6<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;
</FONT><FONT STYLE="font-size: 10pt"><U>Application of Net Proceeds</U></FONT>. The Company will apply the net proceeds from the Offering
received by it in a manner consistent with the application described under the caption &#8220;Use of Proceeds&#8221; in the Prospectus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.7pt 0pt 5pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.7pt 0pt 5pt; text-align: justify; text-indent: 0.5in">4.7<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;
</FONT><FONT STYLE="font-size: 10pt"><U>Delivery of Earnings Statements to Security Holders</U></FONT>. The Company will make generally
available to its security holders as soon as practicable, but not later than the first day of the fifteenth full calendar month following
the Execution Date, an earnings statement (which need not be certified by independent public or independent certified public accountants
unless required by the Securities Act or the Rules and Regulations under the Securities Act, but which shall satisfy the provisions of
Rule 158(a) under Section 11(a) of the Securities Act) covering a period of at least twelve consecutive months beginning after the Execution
Date, provided that filings of the Company&#8217;s reports, schedules, forms, statements and other documents required to be filed by
the Company under the Securities Act and the Exchange Act, including pursuant to Section 13(a) or 15(d) thereof (including the exhibits
thereto and documents incorporated by reference therein), after the Execution Date shall be deemed to constitute delivery.</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 5.75pt 0pt 5pt; text-align: justify; text-indent: 0.5in">4.8<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;
</FONT><FONT STYLE="font-size: 10pt"><U>Stabilization</U></FONT>. Neither the Company, nor, to its knowledge, any of its employees, directors
or shareholders (without the consent of the Representative) has taken or will take, directly or indirectly, any action designed to or
that has constituted or that might reasonably be expected to cause or result in, under the Exchange Act, or otherwise, stabilization
or manipulation of the price of any security of the Company to facilitate the sale or resale of the Firm Shares.</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 5.7pt 0pt 5pt; text-align: justify; text-indent: 0.5in">4.9<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt"><U>Internal Controls</U></FONT>. The Company will maintain a system of internal accounting controls
sufficient to provide reasonable assurances that: (i) transactions are executed in accordance with management&#8217;s general or specific
authorization; (ii) transactions are recorded as necessary in order to permit preparation of financial statements in accordance with
U.S. GAAP and to maintain accountability for assets; (iii) access to assets is permitted only in accordance with management&#8217;s general
or specific authorization; and (iv) the recorded accountability for assets is compared with existing assets at reasonable intervals and
appropriate action is taken with respect to any differences.</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 5.75pt 0pt 5pt; text-align: justify; text-indent: 0.5in">4.10<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;
</FONT><FONT STYLE="font-size: 10pt"><U>Accountants</U></FONT>. The Company shall continue to retain a nationally recognized independent
certified public accounting firm for a period of at least three years after the Execution Date. The Underwriters acknowledge that the
Company Auditor is acceptable to the Underwriters.</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 5.85pt 0pt 5pt; text-align: justify; text-indent: 0.5in">4.11<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;
</FONT><FONT STYLE="font-size: 10pt"><U>FINRA</U></FONT>. The Company shall advise the Underwriters (who shall make an appropriate filing
with FINRA) if it is aware that any 5% or greater shareholder of the Company becomes an affiliate or associated person of a FINRA member
firm.</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 5.65pt 0pt 5pt; text-align: justify; text-indent: 0.5in">4.12<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;
</FONT><FONT STYLE="font-size: 10pt"><U>No Fiduciary Duties</U></FONT>. The Company acknowledges and agrees that the Underwriters&#8217;
responsibility to the Company is solely contractual and commercial in nature, based on arms-length negotiations and that neither the
Underwriters nor their Affiliates or any selected dealer shall be deemed to be acting in a fiduciary capacity, or otherwise owes any
fiduciary duty to the Company or any of its Affiliates in connection with the Offering and the other transactions contemplated by this
Agreement. Notwithstanding anything in this Agreement to the contrary, the Company acknowledges that the Underwriters may have financial
interests in the success of the Offering that are not limited to the difference between the price to the public and the purchase price
paid to the Company by the Underwriters for the shares and the Underwriters have no obligation to disclose, or account to the Company
for, any of such additional financial interests. The Company hereby waives and releases, to the fullest extent permitted by law, any
claims that the Company may have against the Underwriters with respect to any breach or alleged breach of fiduciary duty.</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: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.75pt 0pt 5pt; text-align: justify; text-indent: 0.5in">4.13<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;
</FONT><FONT STYLE="font-size: 10pt"><U>Board Composition and Board Designations</U></FONT>. The Company shall ensure that: (i) the qualifications
of the persons serving as board members and the overall composition of the Board of Directors comply with the Sarbanes-Oxley Act of 2002
that are applicable to the Company and the rules promulgated thereunder and with the listing requirements of the Trading Market and (ii)
if applicable the Company, at least one member of the Board of Directors qualifies as a &#8220;financial expert&#8221; as such term is
defined under the Sarbanes-Oxley Act of 2002 and the rules promulgated thereunder.</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 5.75pt 0pt 5pt; text-align: justify; text-indent: 0.5in">4.14<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;
</FONT><FONT STYLE="font-size: 10pt"><U>Securities Laws Disclosure; Publicity</U></FONT>. At the request of the Representative, at the
time requested by the Representative, the Company shall issue a press release disclosing the material terms of the Offering. The Company
and the Representative shall consult with each other in issuing any other press releases with respect to the Offering, and neither the
Company nor any Underwriter shall issue any such press release nor otherwise make any such public statement without the prior consent
of the Company, with respect to any press release of such Underwriter, or without the prior consent of such Underwriter, with respect
to any press release of the Company, which consent shall not unreasonably be withheld or delayed, except if such disclosure is required
by law, in which case the disclosing party shall promptly provide the other party with prior notice of such public statement or communication.
The Company will not issue press releases or engage in any other publicity, without the Representative&#8217;s prior written consent,
for a period ending at 5:00 p.m. (New York City time) on the first business day following the 25th day following the Closing Date, other
than normal and customary releases issued in the ordinary course of the Company&#8217;s business.</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 5.7pt 0pt 5pt; text-align: justify; text-indent: 0.5in">4.15<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;
</FONT><FONT STYLE="font-size: 10pt"><U>Shareholder Rights Plan</U></FONT>. No claim will be made or enforced by the Company or, with
the consent of the Company, any other Person, that any Underwriter of the Firm Shares is an &#8220;Acquiring Person&#8221; under any
control share acquisition, business combination, poison pill (including any distribution under a rights agreement) or similar anti-takeover
plan or arrangement in effect or hereafter adopted by the Company, or that any Underwriter of Firm Shares could be deemed to trigger
the provisions of any such plan or arrangement, by virtue of receiving securities.</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 5.8pt 0pt 5pt; text-align: justify; text-indent: 0.5in">4.16<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt"><U>Reservation of Ordinary Shares</U></FONT>. As of the date hereof, the Company has reserved and
the Company shall continue to reserve and keep available at all times, free of preemptive rights, a sufficient number of Ordinary Shares
for the purpose of enabling the Company to issue Over-Allotment Shares pursuant to the Over-Allotment Option.</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 5.65pt 0pt 5pt; text-align: justify; text-indent: 0.5in">4.17<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;
</FONT><FONT STYLE="font-size: 10pt"><U>Listing of Ordinary Shares</U></FONT>. The Company hereby agrees to use best efforts to maintain
the listing or quotation of the Ordinary Shares on the Nasdaq Capital Market, and concurrently with the Closing, the Company shall apply
to list or quote all of the Ordinary Shares on the Nasdaq Capital Market and promptly secure the listing of all of the Ordinary Shares
on the Nasdaq Capital Market. The Company further agrees, if the Company applies to have the Ordinary Shares traded on any other Trading
Market, it will then include in such application all of the Ordinary Shares, and will take such other action as is necessary to cause
all of the Ordinary Shares to be listed or quoted on such other Trading Market as promptly as possible. The Company will then take all
action reasonably necessary to continue the listing and trading of its Ordinary Shares on a Trading Market and will comply in all respects
with the Company&#8217;s reporting, filing and other obligations under the bylaws or rules of the Trading Market.</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: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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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 0pt 4.5pt; text-align: justify; text-indent: 40.5pt">4.18<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt"><U>Right of First Refusal</U></FONT>. The Company agrees that, except as stated in the Schedule
3 hereto, if, for the period ending six (6) months from the Closing Date, the Company or any of its Subsidiaries: (a) decides to finance
or refinance any indebtedness, the Representative (or any affiliate designated by the Representative) shall have the right to act as
sole book-runner, sole manager, sole placement agent or sole agent with respect to such financing or refinancing; or (b) decides to raise
funds by means of a public offering (including at-the-market facility) or a private placement or any other capital raising financing
of equity, equity-linked or debt securities, the Representative (or any affiliate designated by the Representative) shall have the right
to act as sole book-running manager, sole underwriter or sole placement agent for such financing. If the Representative or one of its
affiliates decides to accept such engagement, the agreement governing such engagement (each a &#8220;<FONT STYLE="font-size: 10pt"><U>Subsequent
Transaction Agreement</U></FONT>&#8221;) will contain, among other things, provisions for customary fees for transactions of similar
size and nature, but in no event will the fees be less than those outlined herein, and the provisions of this Agreement, including indemnification,
which appropriate to such transaction. Notwithstanding the foregoing, the decision to accept the Company&#8217;s engagement under this
Section 4.18 shall be made by the Representative or one of its affiliates, by a written notice to the Company, within ten (10) days of
the receipt of the Company&#8217;s notification of its financing needs.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 41pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 40.95pt"></TD><TD STYLE="width: 20.2pt">4.19</TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt"><U>Subsequent
                                            Equity Sales</U></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 0pt 40.5pt; text-align: justify; text-indent: 40.5pt">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>From the date hereof until six (6) months following the Execution Date, except as stated in Schedule 3 hereto or in the case of
offerings with the Representative, the Company shall not (i) offer, issue or sell, enter into any agreement to offer, issue or sell or
announce the offer, issuance or sale or proposed offer, issuance or sale of any Ordinary Shares or Ordinary Share Equivalents; or (ii)
file or caused to be filed any registration statement with the Commission relating to the offering of any shares of capital stock of
the Company or any securities convertible into or exercisable or exchangeable for shares of capital stock of the Company except for (x)
the adoption of an equity incentive plan and the grant of awards or equity pursuant to any equity incentive plan, and the filing of a
registration statement on Form S-8; provided, however, that any sales by parties to the lock-ups shall be subject to the lock-up agreements
and (y) the issuance of shares in connection with an acquisition or a strategic relationship which may include the sale of equity securities;
provided, that none of such shares shall be saleable in the public market until the expiration of the six (6)-month period described
above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 81pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 40.5pt; text-align: justify; text-indent: 40.5pt">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>From the date hereof until six (6) months after the Closing Date, except as stated in Schedule 3 hereto or in the case of offerings
with the Representative, unless waived by the Representative in connection with this offering, the Company shall be prohibited from effecting
or entering into an agreement to effect any issuance by the Company or any of its Subsidiaries of Ordinary Shares or Ordinary Share Equivalents
(or a combination of units thereof) involving a Variable Rate Transaction. &#8220;Variable Rate Transaction&#8221; means a transaction
in which the Company (i) issues or sells any debt or equity securities that are convertible into, exchangeable or exercisable for, or
include the right to receive additional shares of Ordinary Shares either (A) at a conversion price, exercise price or exchange rate or
other price that is based upon and/or varies with the trading prices of or quotations for the shares of Ordinary Shares at any time after
the initial issuance of such debt or equity securities, or (B) with a conversion, exercise or exchange price that is subject to being
reset at some future date after the initial issuance of such debt or equity security or upon the occurrence of specified or contingent
events directly or indirectly related to the business of the Company or the market for the Ordinary Shares or (ii) enters into, or effects
a transaction under, any agreement, including, but not limited to, an equity line of credit, whereby the Company may issue securities
at a future determined price. Any Purchaser shall be entitled to obtain injunctive relief against the Company to preclude any such issuance,
which remedy shall be in addition to any right to collect damages.</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: 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: center; text-indent: 4.5pt">ARTICLE V. DEFAULT BY
UNDERWRITERS</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.4pt 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt; font-weight: normal">If
on the Closing Date or any Over-Allotment Closing Date, if any, any Underwriter shall fail to purchase and pay for the portion of the
Closing Shares or Over-Allotment Shares, as the case may be, which such Underwriter has agreed to purchase and pay for on such date (otherwise
than by reason of any default on the part of the Company), the Representative, or if the Representative is the defaulting Underwriter,
the non-defaulting Underwriters, shall use their reasonable efforts to procure within 36 hours thereafter one or more of the other Underwriters,
or any others, to purchase from the Company such amounts as may be agreed upon and upon the terms set forth herein, the Closing Shares
or Over-Allotment Shares , as the case may be, which the defaulting Underwriter or Underwriters failed to purchase. If during such 36
hours the Representative shall not have procured such other Underwriters, or any others, to purchase the Closing Shares or Over-Allotment
Shares, as the case may be, agreed to be purchased by the defaulting Underwriter or Underwriters, then (a) if the aggregate number of
Closing Shares or Over-Allotment Shares, as the case may be, with respect to which such default shall occur does not exceed 10% of the
Closing Shares or Over-Allotment Shares, as the case may be, covered hereby, the other Underwriters shall be obligated, severally, in
proportion to the respective numbers of Closing Shares or Over-Allotment Shares, as the case may be, which they are obligated to purchase
hereunder, to purchase the Closing Shares or Over-Allotment Shares, as the case may be, which such defaulting Underwriter or Underwriters
failed to purchase, or (b) if the aggregate number of Closing Shares or Over-Allotment Shares, as the case may be, with respect to which
such default shall occur exceeds 10% of the Closing Shares or Over-Allotment Shares, as the case may be, covered hereby, the Company
or the Representative will have the right to terminate this Agreement without liability on the part of the non-defaulting Underwriters
or of the Company except to the extent provided in Article VI hereof. In the event of a default by any Underwriter or Underwriters, as
set forth in this Article V, the applicable Closing Date may be postponed for such period, not exceeding seven days, as the Representative,
or if the Representative is the defaulting Underwriter, the non-defaulting Underwriters, may determine in order that the required changes
in the Prospectus or in any other documents or arrangements may be effected. The term &#8220;Underwriter&#8221; includes any person substituted
for a defaulting Underwriter. Any action taken under this Section shall not relieve any defaulting Underwriter from liability in respect
of any default of such Underwriter under this Agreement. </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.4pt 0pt 0; text-align: justify; text-indent: -0.05pt"><FONT STYLE="font-size: 10pt; font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 5.4pt 0pt 0; text-align: center; text-indent: -0.05pt">ARTICLE VI.
INDEMNIFICATION</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.7pt 0pt 5pt; text-align: justify; text-indent: 0.5in">6.1<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt"><U>Indemnification of the Underwriters</U></FONT>. Subject to the conditions set forth below, the
Company agrees to indemnify and hold harmless the Underwriters, and each dealer selected by each Underwriter that participates in the
offer and sale of the Firm Shares (each a &#8220;<FONT STYLE="font-size: 10pt"><U>Selected Dealer</U></FONT>&#8221;) and each of their
respective directors, officers and employees and each Person, if any, who controls such Underwriter or any Selected Dealer (&#8220;<FONT STYLE="font-size: 10pt"><U>Controlling
Person</U></FONT>&#8221;) within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act, against any and all
loss, liability, claim, damage and expense whatsoever (including but not limited to any and all legal or other expenses reasonably incurred
in investigating, preparing or defending against any litigation, commenced or threatened, or any claim whatsoever, whether arising out
of any action between such Underwriter and the Company or between such Underwriter and any third party or otherwise) to which they or
any of them may become subject under the Securities Act, the Exchange Act or any other statute or at common law or otherwise or under
the laws of foreign countries, arising out of or based upon any untrue statement or alleged untrue statement of a material fact contained
in (i) any Preliminary Prospectus, if any, the Registration Statement or the Prospectus (as from time to time each may be amended and
supplemented); (ii) any materials or information provided to investors by, or with the approval of, the Company in connection with the
marketing of the offering of the Firm Shares, including any &#8220;road show&#8221; or investor presentations made to investors by the
Company (whether in person or electronically); or (iii) any application or other document or written communication (in this Article VI,
collectively called &#8220;<FONT STYLE="font-size: 10pt"><U>application</U></FONT>&#8221;) executed by the Company or based upon written
information furnished by the Company in any jurisdiction in order to qualify the Shares under the securities laws thereof or filed with
the Commission, any state securities commission or agency, Trading Market or any securities exchange; or the omission or alleged omission
therefrom of a material fact required to be stated therein or necessary to make the statements therein, in the light of the circumstances
under which they were made, not misleading, unless such statement or omission was made in reliance upon and in conformity with written
information furnished to the Company with respect to the applicable Underwriter by or on behalf of such Underwriter expressly for use
in any Preliminary Prospectus, if any, the Registration Statement or Prospectus, or any amendment or supplement thereto, or in any application,
as the case may be. With respect to any untrue statement or omission or alleged untrue statement or omission made in the Preliminary
Prospectus, if any, the indemnity agreement contained in this Section 6.1 shall not inure to the benefit of an Underwriter to the extent
that any loss, liability, claim, damage or expense of such Underwriter results from the fact that a copy of the Prospectus was not given
or sent to the Person asserting any such loss, liability, claim or damage at or prior to the written confirmation of sale of the Firm
Shares to such Person as required by the Securities Act and the rules and regulations thereunder, and if the untrue statement or omission
has been corrected in the Prospectus, unless such failure to deliver the Prospectus was a result of non- compliance by the Company with
its obligations under this Agreement. The Company agrees promptly to notify each Underwriter of the commencement of any litigation or
proceedings against the Company or any of its officers, directors or Controlling Persons in connection with the issue and sale of the
Firm Shares or in connection with the Registration Statement or 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"></P>

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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 5.7pt 0pt 5pt; text-align: justify; text-indent: 0.5in">6.2<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;
</FONT><FONT STYLE="font-size: 10pt"><U>Procedure</U></FONT>. If any action is brought against an Underwriter, a Selected Dealer or a
Controlling Person in respect of which indemnity may be sought against the Company pursuant to Section 6.1, such Underwriter, such Selected
Dealer or Controlling Person, as the case may be, shall promptly notify the Company in writing of the institution of such action and
the Company shall assume the defense of such action, including the employment and fees of counsel (subject to the reasonable approval
of such Underwriter or such Selected Dealer, as the case may be) and payment of actual expenses. Such Underwriter, such Selected Dealer
or Controlling Person shall have the right to employ its or their own counsel in any such case, but the fees and expenses of such counsel
shall be at the expense of such Underwriter, such Selected Dealer or Controlling Person unless (i) the employment of such counsel at
the expense of the Company shall have been authorized in writing by the Company in connection with the defense of such action, or (ii)
the Company shall not have employed counsel to have charge of the defense of such action, or (iii) such indemnified party or parties
shall have reasonably concluded that there may be defenses available to it or them which are different from or additional to those available
to the Company (in which case the Company shall not have the right to direct the defense of such action on behalf of the indemnified
party or parties), in any of which events the reasonable fees and expenses of not more than one additional firm of attorneys selected
by such Underwriter (in addition to local counsel), Selected Dealer and/or Controlling Person shall be borne by the Company. Notwithstanding
anything to the contrary contained herein, if any Underwriter, Selected Dealer or Controlling Person shall assume the defense of such
action as provided above, the Company shall have the right to approve the terms of any settlement of such action which approval shall
not be unreasonably withheld.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.7pt 0pt 41pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.7pt 0pt 5pt; text-align: justify; text-indent: 0.5in">6.3<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt"><U>Indemnification of the Company</U></FONT>. Each Underwriter severally and not jointly agrees
to indemnify and hold harmless the Company, its directors, officers and employees and agents who control the Company within the meaning
of Section 15 of the Securities Act or Section 20 of the Exchange Act against any and all loss, liability, claim, damage and expense
described in the foregoing indemnity from the Company to such Underwriter, as incurred, but only with respect to untrue statements or
omissions, or alleged untrue statements or omissions made in any Preliminary Prospectus, if any, the Registration Statement or Prospectus
or any amendment or supplement thereto or in any application, in reliance upon, and in strict conformity with, written information furnished
to the Company with respect to such Underwriter by or on behalf of such Underwriter expressly for use in such Preliminary Prospectus,
if any, the Registration Statement or Prospectus or any amendment or supplement thereto or in any such application. In case any action
shall be brought against the Company or any other Person so indemnified based on any Preliminary Prospectus, if any, the Registration
Statement or Prospectus or any amendment or supplement thereto or any application, and in respect of which indemnity may be sought against
such Underwriter, such Underwriter shall have the rights and duties given to the Company, and the Company and each other Person so indemnified
shall have the rights and duties given to such Underwriter by the provisions of this Article VI. Notwithstanding the provisions of this
Section 6.3, no Underwriter shall be required to indemnify the Company for any amount in excess of the underwriting discounts and commissions
applicable to the Firm Shares purchased by such Underwriter. The Underwriters&#8217; obligations in this Section 6.3 to indemnify the
Company are several in proportion to their respective underwriting obligations and not joint.</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"></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 40.95pt"></TD><TD STYLE="width: 15.15pt">6.4</TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><U>Contribution</U></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 5.65pt 0pt 41pt; text-align: justify; text-indent: 0.5in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;
</FONT><FONT STYLE="font-size: 10pt"><U>Contribution Rights</U></FONT>. In order to provide for just and equitable contribution under
the Securities Act in any case in which (i) any Person entitled to indemnification under this Article VI makes a claim for indemnification
pursuant hereto but it is judicially determined (by the entry of a final judgment or decree by a court of competent jurisdiction and
the expiration of time to appeal or the denial of the last right of appeal) that such indemnification may not be enforced in such case
notwithstanding the fact that this Article VI provides for indemnification in such case, or (ii) contribution under the Securities Act,
the Exchange Act or otherwise may be required on the part of any such Person in circumstances for which indemnification is provided under
this Article VI, then, and in each such case, the Company and each Underwriter, severally and not jointly, shall contribute to the aggregate
losses, liabilities, claims, damages and expenses of the nature contemplated by said indemnity agreement incurred by the Company and
such Underwriter, as incurred, in such proportions that such Underwriter is responsible for that portion represented by the percentage
that the underwriting discount appearing on the cover page of the Prospectus bears to the initial offering price appearing thereon and
the Company is responsible for the balance; provided, that, no Person guilty of a fraudulent misrepresentation (within the meaning of
Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who was not guilty of such fraudulent misrepresentation.
For purposes of this Section, each director, officer and employee of such Underwriter or the Company, as applicable, and each Person,
if any, who controls such Underwriter or the Company, as applicable, within the meaning of Section 15 of the Securities Act shall have
the same rights to contribution as such Underwriter or the Company, as applicable. Notwithstanding the provisions of this Section 6.4,
no Underwriter shall be required to contribute any amount in excess of the underwriting discounts and commissions applicable to the Firm
Shares purchased by such Underwriter. The Underwriters&#8217; obligations in this Section 6.4 to contribute are several in proportion
to their respective underwriting obligations and not joint.</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 5.7pt 0pt 41pt; text-align: justify; text-indent: 38.5pt">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;
</FONT><FONT STYLE="font-size: 10pt"><U>Contribution Procedure</U></FONT>. Within fifteen days after receipt by any party to this Agreement
(or its representative) of notice of the commencement of any action, suit or proceeding, such party will, if a claim for contribution
in respect thereof is to be made against another party (&#8220;<FONT STYLE="font-size: 10pt"><U>contributing party</U></FONT>&#8221;),
notify the contributing party of the commencement thereof, but the failure to so notify the contributing party will not relieve it from
any liability which it may have to any other party other than for contribution hereunder. In case any such action, suit or proceeding
is brought against any party, and such party notifies a contributing party or its representative of the commencement thereof within the
aforesaid fifteen days, the contributing party will be entitled to participate therein with the notifying party and any other contributing
party similarly notified. Any such contributing party shall not be liable to any party seeking contribution on account of any settlement
of any claim, action or proceeding affected by such party seeking contribution without the written consent of such contributing party.
The contribution provisions contained in this Section 6.4 are intended to supersede, to the extent permitted by law, any right to contribution
under the Securities Act, the Exchange Act or otherwise available.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.7pt 0pt 79.5pt; text-align: left; text-indent: 0in">&nbsp;</P>

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

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<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 0pt 13.5pt; text-align: center; text-indent: 0.05pt">ARTICLE VII.
MISCELLANEOUS</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 40.95pt"></TD><TD STYLE="width: 15.15pt">7.1</TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><U>Termination</U></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 5.75pt 0pt 41pt; text-align: justify; text-indent: 0.5in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;
</FONT><FONT STYLE="font-size: 10pt"><U>Termination Right</U></FONT> The Representative shall have the right to terminate this Agreement
at any time prior to the Closing Date or any Over-Allotment Closing Date, if any, (i) if any domestic or international event or act or
occurrence has materially disrupted, or in its opinion will in the immediate future materially disrupt, general securities markets in
the United States; or (ii) if trading on any Trading Market shall have been suspended or materially limited, or minimum or maximum prices
for trading shall have been fixed, or maximum ranges for prices for securities shall have been required by FINRA or by order of the Commission
or any other government authority having jurisdiction, or (iii) if the United States shall have become involved in a new war or an increase
in major hostilities, or (iv) if a banking moratorium has been declared by a New York State or federal authority, or (v) if a moratorium
on foreign exchange trading has been declared which materially adversely impacts the United States securities markets, or (vi) if the
Company shall have sustained a material loss by fire, flood, accident, hurricane, earthquake, theft, sabotage or other calamity or malicious
act which, whether or not such loss shall have been insured, will, in the Representative&#8217;s opinion, make it inadvisable to proceed
with the delivery of the Shares, or (vii) if the Company is in material breach of any of its representations, warranties or covenants
hereunder, or (viii) if the Representative shall have become aware after the date hereof of such a material adverse change in the conditions
or prospects of the Company, or such adverse material change in general market conditions as in the Representative&#8217;s judgment would
make it impracticable to proceed with the offering, sale and/or delivery of the Shares or to enforce contracts made by the Underwriters
for the sale of the Shares.</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: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 41pt; text-align: justify; text-indent: 38.5pt">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;
</FONT><FONT STYLE="font-size: 10pt"><U>Expenses</U></FONT>. In the event this Agreement shall be terminated pursuant to Section 7.1(a),
within the time specified herein or any extensions thereof pursuant to the terms herein, the Company shall be obligated to pay to the
Representative its actual and accountable out of pocket expenses related to the transactions contemplated herein then due and payable,
including the fees and disbursements of SRF up to $100,000 (<FONT STYLE="font-size: 10pt"><U>provided</U></FONT>, <FONT STYLE="font-size: 10pt"><U>however</U></FONT>,
that such expense cap in no way limits or impairs the indemnification and contribution provisions of this Agreement).</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 5.7pt 0pt 41pt; text-align: justify; text-indent: 0.5in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt"><U>Indemnification</U></FONT>. Notwithstanding any contrary provision contained in this Agreement,
any election hereunder or any termination of this Agreement, and whether or not this Agreement is otherwise carried out, the provisions
of Article VI shall not be in any way effected by such election or termination or failure to carry out the terms of this Agreement or
any part hereof.</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 5.6pt 0pt 5pt; text-align: justify; text-indent: 0.5in">7.2<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;
</FONT><FONT STYLE="font-size: 10pt"><U>Entire Agreement</U></FONT>. The Transaction Documents, together with the exhibits and schedules
thereto, and the Prospectus contain the entire understanding of the parties with respect to the subject matter hereof and thereof and
supersede all prior agreements and understandings, oral or written, with respect to such matters, which the parties acknowledge have
been merged into such documents, exhibits and schedules. Notwithstanding anything herein to the contrary, the Engagement Agreement, dated
March 30, 2021, as amended, between the Company and the Representative shall continue to be effective and the terms therein shall continue
to survive and be enforceable by the Representative in accordance with its terms, provided that, in the event of a conflict between the
terms of the Engagement Agreement and this Agreement, the terms of this Agreement shall prevail.</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 5.75pt 0pt 5pt; text-align: justify; text-indent: 0.5in">7.3<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;
</FONT><FONT STYLE="font-size: 10pt"><U>Notices</U></FONT>. Any and all notices or other communications or deliveries required or permitted
to be provided hereunder shall be in writing and shall be deemed given and effective on the earliest of: (a) the date of transmission,
if such notice or communication is delivered via facsimile at the facsimile number or email attachment set forth on the signature pages
attached hereto at or prior to 5:30 p.m. (New York City time) on a Trading Day, (b) the next Trading Day after the date of transmission,
if such notice or communication is delivered via facsimile at the facsimile number or email attachment as set forth on the signature
pages attached hereto on a day that is not a Trading Day or later than 5:30 p.m. (New York City time) on any Trading Day, (c) the second
(2nd) Trading Day following the date of mailing, if sent by U.S. nationally recognized overnight courier service or (d) upon actual receipt
by the party to whom such notice is required to be given. The address for such notices and communications shall be as set forth on the
signature pages attached hereto.</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: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.75pt 0pt 5pt; text-align: justify; text-indent: 0.5in">7.4<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt"><U>Amendments; Waivers</U></FONT>. No provision of this Agreement may be waived, modified, supplemented
or amended except in a written instrument signed, in the case of an amendment, by the Company and the Representative. No waiver of any
default with respect to any provision, condition or requirement of this Agreement shall be deemed to be a continuing waiver in the future
or a waiver of any subsequent default or a waiver of any other provision, condition or requirement hereof, nor shall any delay or omission
of any party to exercise any right hereunder in any manner impair the exercise of any such right.</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 5.8pt 0pt 5pt; text-align: justify; text-indent: 0.5in">7.5<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;
</FONT><FONT STYLE="font-size: 10pt"><U>Headings</U></FONT>. The headings herein are for convenience only, do not constitute a part of
this Agreement and shall not be deemed to limit or affect any of the provisions hereof.</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 5.9pt 0pt 5pt; text-align: justify; text-indent: 0.5in">7.6<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;
</FONT><FONT STYLE="font-size: 10pt"><U>Successors and Assigns</U></FONT>. This Agreement shall be binding upon and inure to the benefit
of the parties and their successors and permitted assigns.</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 5.65pt 0pt 5pt; text-align: justify; text-indent: 0.5in">7.7<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt"><U>Governing Law</U></FONT>. All questions concerning the construction, validity, enforcement and
interpretation of the Transaction Documents shall be governed by and construed and enforced in accordance with the internal laws of the
State of New York, without regard to the principles of conflicts of law thereof. Each party agrees that all legal proceedings arising
out of this Agreement and any other Transaction Documents (whether brought against a party hereto or its respective affiliates, directors,
officers, shareholders, partners, members, employees or agents) shall be commenced exclusively in the state and federal courts sitting
in the City of New York. Each party hereby irrevocably submits to the exclusive jurisdiction of the state and federal courts sitting
in the City of New York, Borough of Manhattan for the adjudication of any dispute hereunder or in connection herewith or with any transaction
contemplated hereby or discussed herein (including with respect to the enforcement of any of the Transaction Documents), and hereby irrevocably
waives, and agrees not to assert in any action, suit or proceeding, any claim that it is not subject to personal jurisdiction, that such
suit, action or proceeding is improper or is an inconvenient venue for such proceeding. Each party hereby irrevocably waives personal
service of process and consents to process being served in any such suit, action or proceeding by mailing a copy thereof via registered
or certified mail or overnight delivery (with evidence of delivery) to such party at the address in effect for notices to it under this
Agreement and agrees that such service shall constitute good and sufficient service of process and notice thereof. Nothing contained
herein shall be deemed to limit in any way any right to serve process in any other manner permitted by law. If either party shall commence
an action or proceeding to enforce any provisions of the Transaction Documents, then, in addition to the obligations of the Company or
the Representative under Article VI, the prevailing party in such action, suit or proceeding shall be reimbursed by the other party for
its reasonable attorneys&#8217; fees and other costs and expenses incurred with the investigation, preparation and prosecution of such
action or proceeding.</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 5.8pt 0pt 5pt; text-align: justify; text-indent: 0.5in">7.8<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;
</FONT><FONT STYLE="font-size: 10pt"><U>Survival</U></FONT>. The representations and warranties contained herein shall survive the Closing
and the Over-Allotment Closing, if any, and the delivery of the Securities.</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 5.65pt 0pt 5pt; text-align: justify; text-indent: 0.5in">7.9<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt"><U>Execution</U></FONT>. This Agreement may be executed in two or more counterparts, all of which
when taken together shall be considered one and the same agreement and shall become effective when counterparts have been signed by each
party and delivered to each other party, it being understood that the parties need not sign the same counterpart. In the event that any
signature is delivered by facsimile transmission or by e-mail delivery of a &#8220;.pdf&#8221; format data file, such signature shall
create a valid and binding obligation of the party executing (or on whose behalf such signature is executed) with the same force and
effect as if such facsimile or &#8220;.pdf&#8221; signature page were an original thereof.</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: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 5pt; text-align: justify; text-indent: 0.5in">7.10<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt"><U>Severability</U></FONT>. If any term, provision, covenant or restriction of this Agreement is
held by a court of competent jurisdiction to be invalid, illegal, void or unenforceable, the remainder of the terms, provisions, covenants
and restrictions set forth herein shall remain in full force and effect and shall in no way be affected, impaired or invalidated, and
the parties hereto shall use their commercially reasonable efforts to find and employ an alternative means to achieve the same or substantially
the same result as that contemplated by such term, provision, covenant or restriction. It is hereby stipulated and declared to be the
intention of the parties that they would have executed the remaining terms, provisions, covenants and restrictions without including
any of such that may be hereafter declared invalid, illegal, void or unenforceable.</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 5.65pt 0pt 5pt; text-align: justify; text-indent: 0.5in">7.11<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;
</FONT><FONT STYLE="font-size: 10pt"><U>Remedies</U></FONT>. In addition to being entitled to exercise all rights provided herein or
granted by law, including recovery of damages, the Underwriters and the Company will be entitled to specific performance under the Transaction
Documents. The parties agree that monetary damages may not be adequate compensation for any loss incurred by reason of any breach of
obligations contained in the Transaction Documents and hereby agree to waive and not to assert in any action for specific performance
of any such obligation the defense that a remedy at law would be adequate.</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 5.75pt 0pt 5.05pt; text-align: justify; text-indent: 0.5in">7.12<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt"><U>Saturdays, Sundays, Holidays, etc</U></FONT>. If the last or appointed day for the taking of
any action or the expiration of any right required or granted herein shall not be a Business Day, then such action may be taken or such
right may be exercised on the next succeeding Business Day.</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 5.7pt 0pt 5pt; text-align: justify; text-indent: 0.5in">7.13<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;
</FONT><FONT STYLE="font-size: 10pt"><U>Construction</U></FONT>. The parties agree that each of them and/or their respective counsel
have reviewed and had an opportunity to revise the Transaction Documents and, therefore, the normal rule of construction to the effect
that any ambiguities are to be resolved against the drafting party shall not be employed in the interpretation of the Transaction Documents
or any amendments thereto. In addition, each and every reference to share prices and Ordinary Shares in any Transaction Document shall
be subject to adjustment for reverse and forward stock splits, stock dividends, stock combinations and other similar transactions of
the Ordinary Shares that occur after the date of this Agreement.</P>

<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 5.75pt 0pt 5pt; text-align: justify; text-indent: 0.5in">7.14<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt"><U>WAIVER OF JURY TRIAL</U></FONT>. IN ANY ACTION, SUIT, OR PROCEEDING IN ANY JURISDICTION BROUGHT
BY ANY PARTY AGAINST ANY OTHER PARTY ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY, THE PARTIES
EACH KNOWINGLY AND INTENTIONALLY, TO THE GREATEST EXTENT PERMITTED BY APPLICABLE LAW, HEREBY ABSOLUTELY, UNCONDITIONALLY, IRREVOCABLY
AND EXPRESSLY WAIVE FOREVER ANY RIGHT TO TRIAL BY JURY.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 2.25in 0pt 2in; text-align: center"><FONT STYLE="font-size: 10pt"><I>(Signature
Page Follows)</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 2.25in 0pt 2in; text-align: center"><FONT STYLE="font-size: 10pt"><I>&nbsp;</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 2.25in 0pt 2in; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 2.25in 0pt 2in; text-align: center"><FONT STYLE="font-size: 10pt"><I>&nbsp;</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.2pt 0pt 5.05pt; text-align: justify; text-indent: 35pt">If the foregoing
correctly sets forth the understanding between the Underwriters and the Company, please so indicate in the space provided below for that
purpose, whereupon this letter shall constitute a binding agreement among the Company and the several Underwriters in accordance with
its terms.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; border-collapse: collapse; width: 100%">
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Very truly yours,</FONT></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">FARMMI, INC.</FONT></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font-size: 10pt; width: 50%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 3%"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 47%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Name: Yefang Zhang</FONT></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Title: Chief Executive Officer</FONT></TD></TR>
  </TABLE>


<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 COLSPAN="2">&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Address for Notice:</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2">&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Fl 1, Building No. 1, 888 Tianning Street, Liandu District</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Lishui, Zhejiang Province</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">People&rsquo;s Republic of China 323000</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>zhj@farmmi.com</U></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2">&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">With a copy (for informational purposes only) to:</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Accepted on the date first above written.</FONT></TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Campbells LLP</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>AEGIS CAPITAL CORP.</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Floor 4, Willow House,
    Cricket Square, Grand Cayman KY1-9010, Cayman Islands</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">As the Representative of the several Underwriters
    listed on Schedule I</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">rspencer@campbellslegal.com</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2"></TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 45%">&nbsp;</TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 45%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">And to:</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name:</FONT></TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title: Chief Executive Officer</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Kaufman &amp; Canoles</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Two James Center, 4th Floor, 1021 E. Cary St., Richmond,
    VA 23219</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="3"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Address for Notice:</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">awbasch@kaufcan.com</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">810 7th Avenue</FONT></TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">New York, New York 10019 Email:</FONT></TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2">&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Copy to:</FONT></TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2">&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Sichenzia Ross Ference LLP</FONT></TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1185 Avenue of the Americas, 31<SUP>st</SUP> Floor</FONT></TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">New York, New York 10036</FONT></TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Attention: Greg Sichenzia</FONT></TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Email: <U>mailto</U>:gsichenzia@srf.com</FONT></TD>
    <TD COLSPAN="2">&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 167.55pt 0pt 199.4pt; text-align: center"><FONT STYLE="font-size: 10pt"><I>[Signature
Page to Underwriting Agreement]</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 167.55pt 0pt 199.4pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 167.55pt 0pt 199.4pt; text-align: center"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 167.55pt 0pt 199.4pt; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 4.5pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>SCHEDULE
1</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 4.5pt; text-align: center">SCHEDULE OF UNDERWRITERS</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif">Underwriters</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">Closing <BR>
    Shares</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">Closing <BR>
    Purchase Price</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 74%; text-align: left">Aegis Capital Corp.</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 10%; text-align: right">140,000,000</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 10%; text-align: right">39,165,000.00</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">Total</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">140,000,000</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">39,165,000.00</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&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 167.55pt 0pt 199.4pt; text-align: center"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 167.55pt 0pt 199.4pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 167.55pt 0pt 199.4pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>SCHEDULE
2-A</B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 167.55pt 0pt 199.55pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>Pricing
Information</B></FONT></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.9pt 0pt 0">Number of Closing Shares: <FONT STYLE="font-size: 10pt">140,000,000</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.9pt 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.9pt 0pt 0">Number of Over-Allotment Shares: 21,000,000&#9;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.9pt 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.9pt 0pt 0">Ordinary Shares Purchase Price per share: $0.30 per Ordinary
Share</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.9pt 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.9pt 0pt 0">Underwriting Discount per share: $0.02025 per Ordinary Share</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.9pt 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.9pt 0pt 0">Underwriting Non-accountable expense allowance per Closing
Share: $0.00300 per Ordinary Share</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.9pt 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.9pt 0pt 0">Underwriting Non-accountable expense allowance per Over-allotment
Share: $0.00300 per Ordinary Share</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.9pt 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.9pt 0pt 0">Proceeds to Company per Closing Share (after non-accountable
expenses): $0.27675 per Ordinary Share</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.9pt 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.9pt 0pt 0">Proceeds to Company per Over-Allotment Share (after non-accountable
expenses): $0.27675 per Ordinary Share</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.9pt 0pt 0"><BR STYLE="clear: both"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.9pt 0pt 0"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.9pt 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 167.55pt 0pt 199.4pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>SCHEDULE
3</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.9pt 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.9pt 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt"><U>Exemptions from
Right of First Refusal and Subsequent Equity Sales</U></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">The right of first refusal and subsequent equity sales set forth in
Sections 4.18 and 4.19 of the Underwriting Agreement shall not apply the following matters:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 23pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">1)</FONT></TD><TD STYLE="text-align: justify; padding-right: 5.7pt">Any
                                            conventional bank loans not involving any convertible or other security of the Company.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.7pt 0pt 41pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 23pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">2)</FONT></TD><TD STYLE="text-align: justify; padding-right: 5.7pt">A
                                            private placement of up to RMB40 million of unregistered, restricted ordinary shares of the
                                            Company to investors in China, not involving any investment bank, priced at-the-market (not
                                            less than the average closing price for the five (5) trading days prior to execution) with
                                            no registration rights and not eligible for voluntary registration by the Company during
                                            the term of the right of first refusal.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.7pt 0pt 41pt; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 23pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">3)</FONT></TD><TD STYLE="text-align: justify; padding-right: 5.7pt">Ordinary
                                            shares or options issued to employees, officers or directors of the Company pursuant to the
                                            Company&#8217;s Executive Equity Incentive Plan or pursuant to the compensation agreements
                                            previously authorized by the Board of Directors.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.7pt 0pt 41pt; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 23pt"></TD><TD STYLE="width: 18pt">4)</TD><TD STYLE="text-align: justify; padding-right: 5.7pt">Securities issued upon
                                            the exercise or exchange of or conversion of securities exercisable or exchangeable for or
                                            convertible into ordinary shares issued and outstanding on the date of this Underwriting
                                            Agreement (or issued pursuant to the prior paragraph), provided that such securities have
                                            not been amended since the date of this Underwriting Agreement to increase the number of
                                            such securities or to decrease the exercise price, exchange price or conversion price of
                                            such securities (other than by virtue of this Offering or in connection with stock splits
                                            or combinations) or to extend the term of such securities.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.7pt 0pt 41pt; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 23pt"></TD><TD STYLE="width: 18pt">5)</TD><TD STYLE="text-align: justify; padding-right: 5.7pt">Securities issued pursuant
                                            to acquisitions or strategic transactions and the payment of contractor invoices in the ordinary
                                            course of business approved by a majority of the disinterested directors of the Company,
                                            provided that such securities are issued as &#8220;restricted securities&#8221; (as defined
                                            in Rule 144) and carry no registration rights that require or permit the filing of any registration
                                            statement in connection therewith during the period in Section 4.19 of the Underwriting Agreement,
                                            and provided that any such issuance shall only be to a Person (or to the equityholders of
                                            a Person) which is, itself or through its subsidiaries, an operating company or an owner
                                            of an asset in a business synergistic with the business of the Company and shall provide
                                            to the Company additional benefits in addition to the investment of funds, but shall not
                                            include a transaction in which the Company is issuing securities primarily for the purpose
                                            of raising capital or to an entity whose primary business is investing in securities.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.9pt 0pt 0">&nbsp;</P>

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<TYPE>EX-5.1
<SEQUENCE>3
<FILENAME>tm2114911d1_ex5-1.htm
<DESCRIPTION>EXHIBIT 5.1
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0; text-align: right"><FONT STYLE="font-size: 10pt"><B>Exhibit 5.1</B></FONT></P>

<P STYLE="margin: 0; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

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  <TD STYLE="text-align: right; padding-left: 10pt; text-indent: -10pt; width: 15%"><FONT STYLE="font-size: 10pt"><B>&nbsp;</B></FONT></TD></TR>
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    <TD STYLE="text-align: left; vertical-align: bottom"><FONT STYLE="font-size: 10pt"><B>Farmmi, Inc.</B><BR>
    Fl 1, Building No. 1, 888 Tianning Street<BR>
    Liandu District<BR>
    Lishui, Zhejiang Province<BR>
    People&rsquo;s Republic of China 323000</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="3" STYLE="padding-left: 0.125in"><P STYLE="margin-left: 0.25in; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 10pt">Campbells
                                            LLP <BR> Floor 4, Willow House, Cricket Square <BR> Grand Cayman KY1-9010 <BR> Cayman Islands</FONT></P>
                                                  <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>
                                                  <P STYLE="margin-left: 0.25in; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 10pt">T
                                            +1 345 949 2648 <BR> E <U>rspencer@campbellslegal.com</U></FONT></P>
                                                  <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>
                                                  <P STYLE="margin-left: 0.25in; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 10pt">campbellslegal.com</FONT></P>
                                                  <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>
                                                  <P STYLE="margin-left: 0.25in; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 10pt">Our Ref: RBS/DPM/16074-30576
                                            <BR> Your Ref:</FONT></P></TD></TR>
  <TR>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR>
    <TD STYLE="width: 40%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 30%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 3%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 12%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 15%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="3" STYLE="padding-left: 0.375in"><FONT STYLE="font-size: 10pt">CAYMAN | BVI | HONG KONG</FONT></TD></TR>
  </TABLE>




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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">3 May 2021</P>

<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: justify">Dear Sirs</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>Farmmi, Inc. &ndash; Issuance of Ordinary Shares</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">We have acted as Cayman Islands legal advisers
to you, <FONT STYLE="background-color: white">Farmmi, Inc. (the &quot;<B>Company</B>&quot;), a Cayman Islands exempted company,</FONT>
in connection with the Company&rsquo;s offering (the &ldquo;<B>Offering</B>&rdquo;) of an aggregate offering 161,000,000 o<FONT STYLE="background-color: white">rdinary
shares with par value of US$0.001 per share in </FONT>the capital of the Company (the &ldquo;<B>Shares</B>&rdquo;). The Shares will be
issued and sold under the Company&rsquo;s registration statement on Form F-1 (File No. 333-255387) (the &ldquo;<B>Initial Registration
Statement</B>&rdquo;), an abbreviated registration statement on Form F-1 pursuant to Rule 462(b) under the Securities Act (File No. 333-255590)
(the &ldquo;<B>Rule 462 Registration Statement</B>,&rdquo; and collectively, the &ldquo;<B>Registration Statements</B>&rdquo;) and the
prospectus dated 28 April 2021 (the &ldquo;<B>Prospectus</B>&rdquo;), all filed with the Securities and Exchange Commission (the &ldquo;<B>SEC</B>&rdquo;).
The Initial Registration Statement has been declared effective by the SEC on 28 April 2021, and the Rule 462 Registration Statement has
been effective upon filing on 28 April 2021.</P>

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

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<TD STYLE="text-align: justify; width: 0"></TD><TD STYLE="text-align: justify; width: 0.5in">1</TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Assumptions</FONT></TD></TR></TABLE>

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

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<TD STYLE="text-align: justify; width: 0"></TD><TD STYLE="text-align: justify; width: 0.5in">1.1</TD><TD STYLE="text-align: justify">The following opinions are given only as to, and based on, circumstances and matters of fact existing
and known to us on the date of this opinion letter. These opinions only relate to the laws of the Cayman Islands which are in force on
the date of this opinion letter. In giving these opinions we have relied (without further verification) upon the completeness and accuracy
of the Resolutions, the Director&rsquo;s Certificate and the Certificate of Good Standing (each as defined below). We have also relied
upon the following assumptions, which we have not independently verified:</TD></TR></TABLE>

<P STYLE="text-align: justify; margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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="text-align: justify; width: 0"></TD><TD STYLE="text-align: justify; width: 0.5in">1.2</TD><TD STYLE="text-align: justify">Copies of documents, conformed copies or drafts of documents provided to us are true and complete copies
of, or in the final forms of, the originals, and translations of documents provided to us are complete and accurate;</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt">The Cayman Islands firm known as &ldquo;Campbells&rdquo; converted from a firm to a Cayman Islands limited liability partnership known
as &ldquo;Campbells LLP&rdquo; on 25 February 2021.</P>

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

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

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<TD STYLE="text-align: justify; width: 0"></TD><TD STYLE="text-align: justify; width: 0.5in">1.3</TD><TD STYLE="text-align: justify">All signatures, initials and seals are genuine;</TD></TR></TABLE>

<P STYLE="text-align: justify; margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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="text-align: justify; width: 0"></TD><TD STYLE="text-align: justify; width: 0.5in">1.4</TD><TD STYLE="text-align: justify">There is nothing under any law (other than the laws of the Cayman Islands) which would or might affect
the opinions expressed herein;</TD></TR></TABLE>

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

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<TD STYLE="text-align: justify; width: 0"></TD><TD STYLE="text-align: justify; width: 0.5in">1.5</TD><TD STYLE="text-align: justify">The Shares to be offered and issued by the Company pursuant to the Letter of Engagement (as defined below),
the Agreement (as defined below) and the Registration Statements (the &ldquo;<B>Documents</B>&rdquo;) will be issued by the Company against
payment in full, in accordance with the Documents and be duly registered in the Company&rsquo;s register of members;</TD></TR></TABLE>

<P STYLE="text-align: justify; margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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="text-align: justify; width: 0"></TD><TD STYLE="text-align: justify; width: 0.5in">1.6</TD><TD STYLE="text-align: justify">The A&amp;R Memorandum and Articles (as defined below) remain in full force and effect and are unamended;</TD></TR></TABLE>

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

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<TD STYLE="text-align: justify; width: 0"></TD><TD STYLE="text-align: justify; width: 0.5in">1.7</TD><TD STYLE="text-align: justify">The Resolutions were duly passed in the manner prescribed in the A&amp;R Memorandum and Articles and the
resolutions contained in the Resolutions are in full force and effect at the date hereof and have not been amended, varied or revoked
in any respect;</TD></TR></TABLE>

<P STYLE="text-align: justify; margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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="text-align: justify; width: 0"></TD><TD STYLE="text-align: justify; width: 0.5in">1.8</TD><TD STYLE="text-align: justify">The authorised shares of the Company as set out in the A&amp;R Memorandum and Articles have not been amended;</TD></TR></TABLE>

<P STYLE="text-align: justify; margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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="text-align: justify; width: 0"></TD><TD STYLE="text-align: justify; width: 0.5in">1.9</TD><TD STYLE="text-align: justify">That the validity and binding effect under the laws of the United States of America of the Registration
Statements;</TD></TR></TABLE>

<P STYLE="text-align: justify; margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;&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="text-align: justify; width: 0"></TD><TD STYLE="text-align: justify; width: 0.5in">1.10</TD><TD STYLE="text-align: justify">The transactions contemplated under the Documents comply with the requirements of the applicable rules
of the Nasdaq Stock Market;</TD></TR></TABLE>

<P STYLE="text-align: justify; margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;&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="text-align: justify; width: 0"></TD><TD STYLE="text-align: justify; width: 0.5in">1.11</TD><TD STYLE="text-align: justify">The minute book and corporate records of the Company as maintained at its registered office in the Cayman
Islands are complete and accurate in all material respects, and all minutes and resolutions filed therein represent a complete and accurate
record of all meetings of the shareholders and directors (or any committee thereof) (duly convened in accordance with the then effective
A&amp;R Memorandum and Articles of the Company) and all resolutions passed at the meetings, or passed by written consent as the case may
be;</TD></TR></TABLE>

<P STYLE="text-align: justify; margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;&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="text-align: justify; width: 0"></TD><TD STYLE="text-align: justify; width: 0.5in">1.12</TD><TD STYLE="text-align: justify">That the searches and enquiries referred to in opinion 3.17 below were accurate and complete and disclosed
all information which is material for the purposes of this opinion. It should be noted, however, that (1) searches of the Cayman Islands
Grand Court Register of Writs and other originating process may be out of date as entries may not be posted therein immediately (2) the
Grand Court Cause Book (effective up until 31 May 1995) and the Cayman Islands Grand Court Register of Writs and other originating process
do not list any interlocutory process (and the joinder of a third party to existing proceedings would be an interlocutory process) (3)
there is no register we can search to identify any action or proceedings before any governmental agency or arbitrator in the Cayman Islands
and there is no requirement that such actions or proceedings be recorded in the Grand Court Register of Writs and other originating process,
the Grand Court Cause Book or in the minute books of any company (4) we have not searched the Cayman Islands Summary Court Register of
Plaints and Summons as the maximum monetary limit for civil matters therein is CI$2,000.00; and</TD></TR></TABLE>

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

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

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<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&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="text-align: justify; width: 0"></TD><TD STYLE="text-align: justify; width: 0.5in">1.13</TD><TD STYLE="text-align: justify">That there is no contractual or other prohibition (other than as may arise by virtue of the laws of the
Cayman Islands) binding on the Company or on any other party prohibiting it from entering into and performing its obligations under the
Documents or which materially affect, amend or vary the transactions contemplated by the Registration Statements.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0"></TD><TD STYLE="text-align: justify; width: 0.5in">2</TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Documents Reviewed</FONT></TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">We have reviewed originals,
copies, drafts or conformed copies of the following documents and such other documents or instruments as we deem necessary:</P>

<P STYLE="font: 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" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0"></TD><TD STYLE="text-align: justify; width: 0.5in">2.1</TD><TD STYLE="text-align: justify">A copy of the Prospectus which forms part of the Initial Registration Statement;</TD></TR></TABLE>

<P STYLE="text-align: justify; margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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="text-align: justify; width: 0"></TD><TD STYLE="text-align: justify; width: 0.5in">2.2</TD><TD STYLE="text-align: justify">A copy of the Company&rsquo;s certificate of incorporation issued by the Registrar of Companies on 28
July 2015;</TD></TR></TABLE>

<P STYLE="text-align: justify; margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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="text-align: justify; width: 0"></TD><TD STYLE="text-align: justify; width: 0.5in">2.3</TD><TD STYLE="text-align: justify">A copy of the statutory registers of directors of the Company as maintained at its registered office in
the Cayman Islands, certified as true by a director on 24 March 2021;</TD></TR></TABLE>

<P STYLE="text-align: justify; margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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="text-align: justify; width: 0"></TD><TD STYLE="text-align: justify; width: 0.5in">2.4</TD><TD STYLE="text-align: justify">A copy of the Memorandum of Association and Articles of Association of the Company as adopted by the Company
by a special resolution of the shareholders on 7 December 2017 as amended by a resolution of shareholders dated 12 September 2020 and
certified as true pursuant to the Director&rsquo;s Certificate (the &quot;<B>A&amp;R Memorandum and Articles</B>&quot;);</TD></TR></TABLE>

<P STYLE="text-align: justify; margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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="text-align: justify; width: 0"></TD><TD STYLE="text-align: justify; width: 0.5in">2.5</TD><TD STYLE="text-align: justify">A copy of the Certificate of Good Standing of the Company issued by the Registrar of Companies dated 22
March 2021 (the &quot;<B>Certificate of Good Standing</B>&quot;);</TD></TR></TABLE>

<P STYLE="text-align: justify; margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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="text-align: justify; width: 0"></TD><TD STYLE="text-align: justify; width: 0.5in">2.6</TD><TD STYLE="text-align: justify">A copy of the written resolutions of the board of directors of the Company dated 6 April 2021 and a copy
of the written resolutons of the pricing committee of the Company dated 28 April 2021 (the &quot;<B>Resolutions</B>&quot;);</TD></TR></TABLE>

<P STYLE="text-align: justify; margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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="text-align: justify; width: 0"></TD><TD STYLE="text-align: justify; width: 0.5in">2.7</TD><TD STYLE="text-align: justify">A copy of the letter of engagement dated 30 March 2021 issued by Aegis Capital Corp. and acknowledged
by the Company pursuant to which to Aegis Capital Corp. would serve as the Company&rsquo;s underwriter (the &ldquo;<B>Letter of Engagement</B>&rdquo;);</TD></TR></TABLE>

<P STYLE="text-align: justify; margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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="text-align: justify; width: 0"></TD><TD STYLE="text-align: justify; width: 0.5in">2.8</TD><TD STYLE="text-align: justify">A copy of the certain underwriting agreement (the &ldquo;<B>Agreement</B>&rdquo;) entered into by and
between the Company and Aegis Capital Corp. on 28 April 2021;</TD></TR></TABLE>

<P STYLE="text-align: justify; margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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="text-align: justify; width: 0"></TD><TD STYLE="text-align: justify; width: 0.5in">2.9</TD><TD STYLE="text-align: justify">A copy of the exercise notice of over-allotment option sent by Aegis Capital Corp. to the Company on 30
April 2021;</TD></TR></TABLE>

<P STYLE="text-align: justify; margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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="text-align: justify; width: 0"></TD><TD STYLE="text-align: justify; width: 0.5in">2.10</TD><TD STYLE="text-align: justify">A copy of the director&rsquo;s certificate issued by a director of the Company in our favour on 3 May
2021 (the &ldquo;<B>Director&rsquo;s Certifiacte</B>&rdquo;); and</TD></TR></TABLE>

<P STYLE="text-align: justify; margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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="text-align: justify; width: 0"></TD><TD STYLE="text-align: justify; width: 0.5in">2.11</TD><TD STYLE="text-align: justify">The records of proceedings of the Company on file with, and available for inspection on 30 April 2021,
at the Grand Court of the Cayman Islands.</TD></TR></TABLE>

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

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0"></TD><TD STYLE="text-align: justify; width: 0.5in">3</TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Opinion</FONT></TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Based upon the foregoing and subject to the qualifications
set out below and having regard to such legal considerations as we deem relevant, we are of the opinion that:</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="text-align: justify; width: 0"></TD><TD STYLE="text-align: justify; width: 0.5in">3.1</TD><TD STYLE="text-align: justify">The Company has been duly incorporated as an exempted company with limited liability and is validly existing
and in good standing under the laws of the Cayman Islands.</TD></TR></TABLE>

<P STYLE="text-align: justify; margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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="text-align: justify; width: 0"></TD><TD STYLE="text-align: justify; width: 0.5in">3.2</TD><TD STYLE="text-align: justify">The execution, delivery and performance of the Underwriting Agreement will not violate in any respect
any provision of (i) any law or regulation or any order of any governmental or public body or authority of the Cayman Islands, or (ii)
the A&amp;R Memorandum and Articles.</TD></TR></TABLE>

<P STYLE="text-align: justify; margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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="text-align: justify; width: 0"></TD><TD STYLE="text-align: justify; width: 0.5in">3.3</TD><TD STYLE="text-align: justify">The Company has the corporate power to execute, deliver and perform its obligations under the Documents.</TD></TR></TABLE>

<P STYLE="text-align: justify; margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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="text-align: justify; width: 0"></TD><TD STYLE="text-align: justify; width: 0.5in">3.4</TD><TD STYLE="text-align: justify">The Documents have been duly authorised by all requisite corporate action and have been duly executed
by the Company.</TD></TR></TABLE>

<P STYLE="text-align: justify; margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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="text-align: justify; width: 0"></TD><TD STYLE="text-align: justify; width: 0.5in">3.5</TD><TD STYLE="text-align: justify">The authorized share capital of the Company is as set forth in the Registration Statements, the Documents
and the Prospectus.</TD></TR></TABLE>

<P STYLE="text-align: justify; margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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="text-align: justify; width: 0"></TD><TD STYLE="text-align: justify; width: 0.5in">3.6</TD><TD STYLE="text-align: justify">The Shares have been duly authorized and, upon issuance, delivery and payment therefor as described in
the Documents, will be validly issued, fully paid and nonassessable.</TD></TR></TABLE>

<P STYLE="text-align: justify; margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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="text-align: justify; width: 0"></TD><TD STYLE="text-align: justify; width: 0.5in">3.7</TD><TD STYLE="text-align: justify">To our knowledge, all issued and outstanding securities of the Company have been duly authorized and validly
issued and are fully paid and non-assessable and none of such securities were issued in violation of the preemptive rights of any member
of the Company arising by operation of law and/or the A&amp;R Memorandum and Articles.</TD></TR></TABLE>

<P STYLE="text-align: justify; margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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="text-align: justify; width: 0"></TD><TD STYLE="text-align: justify; width: 0.5in">3.8</TD><TD STYLE="text-align: justify">Statements in the Registration Statements that are statements as to the law in the Cayman Islands, or
legal conclusions in respect of Cayman Islands law, are accurate in all material respects as at the date thereof and such statements constitute
our opinion.</TD></TR></TABLE>

<P STYLE="text-align: justify; margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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="text-align: justify; width: 0"></TD><TD STYLE="text-align: justify; width: 0.5in">3.9</TD><TD STYLE="text-align: justify">To ensure the legality, validity or admissibility into evidence in the Cayman Islands of the Documents,
it is not necessary that the Documents be filed or recorded with any court or other authority in the Cayman Islands although, as a matter
of Cayman law, a share is only issued when it has been entered in the register of members (or shareholders).</TD></TR></TABLE>

<P STYLE="text-align: justify; margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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="text-align: justify; width: 0"></TD><TD STYLE="text-align: justify; width: 0.5in">3.10</TD><TD STYLE="text-align: justify">The information in the Annual Report, incorporated by reference into the Registration Statements, under
the captions &ldquo;Risk Factors&rdquo; and the Registration Statements, has been reviewed by us and is correct in all material respects.</TD></TR></TABLE>

<P STYLE="text-align: justify; margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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="text-align: justify; width: 0"></TD><TD STYLE="text-align: justify; width: 0.5in">3.11</TD><TD STYLE="text-align: justify">Except as otherwise described in the Registration Statements, the Documents and the Prospectus, no member
of the Company, or any other person or entity, has, to our knowledge, any preemptive right or other similar right in connection with the
issuance of the Securities, which right has not been waived, arising under (a) the A&amp;R Memorandum and Articles or the Companies Act
of the Cayman Islands or (b) any agreement or instrument included as an exhibit to the Company&rsquo;s Annual Report on Form 20-F for
the fiscal year ended September 30, 2020 or otherwise incorporated by reference into the Registration Statements (the &ldquo;<B>Material
Contracts</B>&rdquo;).</TD></TR></TABLE>

<P STYLE="text-align: justify; margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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="text-align: justify; width: 0"></TD><TD STYLE="text-align: justify; width: 0.5in">3.12</TD><TD STYLE="text-align: justify">The execution and delivery of the Documents and the consummation of the transactions contemplated
                                                            therein will not violate or conflict with (a) the A&amp;R Memorandum and Articles, (b) any agreement or instrument to which the
                                                            Company is a party or by which the Company is bound and which is included as an exhibit to the Registration Statements or
                                                            incorporated by reference therein (other than any violation of or conflict with any financial tests and covenants set forth therein,
                                                            as to which we express no opinion) or (c) any court or administrative order of the Cayman Islands to which the Company is a named
                                                            party and which is known to us.</TD></TR></TABLE>

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

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 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="text-align: justify; width: 0"></TD><TD STYLE="text-align: justify; width: 0.5in">3.13</TD><TD STYLE="text-align: justify">The execution and delivery of the Documents and the consummation of the transactions contemplated therein
will not violate any law of the Cayman Islands, any rule or regulation of any governmental authority or regulatory body of the Cayman
Islands (except for securities laws, as to which we express no opinion).</TD></TR></TABLE>

<P STYLE="text-align: justify; margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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="text-align: justify; width: 0"></TD><TD STYLE="text-align: justify; width: 0.5in">3.14</TD><TD STYLE="text-align: justify">Under the laws of the Cayman Islands, (i) the submission by the Company to the jurisdiction of the U.S.
federal and state courts in the Borough of Manhattan in The City of New York as provided in the Underwriting Agreement, and (ii) the designation
of the law of the State of New York to apply to the Underwriting Agreement, are binding upon the Company and, if properly brought to the
attention of the court in the Cayman Islands in accordance with the laws of the Cayman Islands, would be enforceable in any judicial proceeding
in the Cayman Islands, subject to the exercise of judicial discretion, provided that such designation in clause (ii) is subject to the
following: (a) as a general rule, the courts of the Cayman Islands will enforce a provision of a contract which states that the contract
is to be governed by foreign law; (b) notwithstanding a contractual choice of law, however, a Cayman Islands Court may refuse to apply
the law of a foreign jurisdiction if such application would generate a result deemed by such court to be incompatible with the public
policy of the Cayman Islands; (c) in addition, certain laws of the Cayman Islands may be deemed to apply to transactions conducted within
or related to the Cayman Islands, even if such laws contradict the law governing the contracts related to such transactions; and (d) the
means of application of foreign law by a Cayman Islands Court require the adjudicating parties to deliver opinions from legal experts
as to the proper application of such foreign law.</TD></TR></TABLE>

<P STYLE="text-align: justify; margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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="text-align: justify; width: 0"></TD><TD STYLE="text-align: justify; width: 0.5in">3.15</TD><TD STYLE="text-align: justify">It is not necessary (i) that solely by reason of the execution, delivery or performance of the Documents,
or (ii) in order for the Underwriter to enforce its rights under the Documents, including the exercise of remedies thereunder (solely
to the extent such enforcement or exercise are governed by Cayman Islands law), that the Underwriter be licensed, qualified, registered
with any governmental or other official authority or public office in the Cayman Islands or otherwise be entitled to carry on business
in the Cayman Islands.</TD></TR></TABLE>

<P STYLE="text-align: justify; margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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="text-align: justify; width: 0"></TD><TD STYLE="text-align: justify; width: 0.5in">3.16</TD><TD STYLE="text-align: justify">Assuming that the Underwriter is not subject to taxation in the Cayman Islands (without confirming the
accuracy of such assumption), the issuance and sale by the Company to the Underwriter of the Shares pursuant to the Underwriting Agreement
are not subject to any tax imposed by the Cayman Islands or any political subdivision thereof.</TD></TR></TABLE>

<P STYLE="text-align: justify; margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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="text-align: justify; width: 0"></TD><TD STYLE="text-align: justify; width: 0.5in">3.17</TD><TD STYLE="text-align: justify">Based solely upon a search conducted of the Cayman Islands Grand Court Cause Book (Civil Division) (effective
up until 31 May 1995) and the Grand Court Register of Writs and other originating process from 28 July 2015 to 30 April 2021, we know
of no pending lawsuits or claims against the Company which are required to be described in the Registration Statements, the Documents
or the Prospectus that are not described as required.</TD></TR></TABLE>

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"></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 0pt 0.5in; text-align: justify">This opinion letter is furnished to
you solely for your benefit as an Underwriter and may only be relied upon by you as Underwriter. It may not be used or relied upon by
you for any other purpose or by any other person, nor may copies be delivered to any other person, without, in each instance, our prior
written consent, subject to the limitations and qualifications set forth herein; provided, however, that such permitted reliance shall
not imply or establish an attorney-client relationship between such relying party and this Firm with respect to the matters covered by
this opinion letter, and such relying party, by relying on our opinion, disclaims any such attorney-client relationship with respect to
the matters covered by this opinion letter. This opinion letter is expressly limited to the matters set forth above, and we render no
opinion, whether by implication or otherwise, as to any other matters. We assume no obligation to update or supplement this opinion letter
to reflect any facts, circumstances, events or developments which hereafter may be brought to our attention and which may alter, affect
or modify the opinions expressed herein, or any future changes in laws.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0"></TD><TD STYLE="text-align: justify; width: 0.5in">4</TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Qualifications</FONT></TD></TR></TABLE>

<P STYLE="text-align: justify; margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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="text-align: justify; width: 0"></TD><TD STYLE="text-align: justify; width: 0.5in">4.1</TD><TD STYLE="text-align: justify">We make no comment with respect to any representations and warranties which may be made by or with respect
to the Company in any of the documents or instruments cited in this opinion or otherwise with respect to the commercial terms of the transactions
the subject of this opinion.</TD></TR></TABLE>

<P STYLE="text-align: justify; margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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="text-align: justify; width: 0"></TD><TD STYLE="text-align: justify; width: 0.5in">4.2</TD><TD STYLE="text-align: justify">In this opinion, the phrase &quot;non-assessable&quot; means, with respect to the Shares, that a shareholder
shall not, solely by virtue of its status as a shareholder, be liable for additional assessments or calls on the Shares by the Company
or its creditors (except in exceptional circumstances, such as involving fraud, the establishment of an agency relationship or an illegal
or improper purpose or other circumstance in which a court may be prepared to pierce or lift the corporate veil).</TD></TR></TABLE>

<P STYLE="text-align: justify; margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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="text-align: justify; width: 0"></TD><TD STYLE="text-align: justify; width: 0.5in">4.3</TD><TD STYLE="text-align: justify">We neither express nor imply any opinion as to any representation or warranty given by the Company in
the Documents as to its capability (financial or otherwise) to undertake the obligations assumed by it under the Documents.&#9;</TD></TR></TABLE>

<P STYLE="text-align: justify; margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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="text-align: justify; width: 0"></TD><TD STYLE="text-align: justify; width: 0.5in">4.4</TD><TD STYLE="text-align: justify">Depending on the nature of the illegality, invalidity or unenforceability in question, a provision providing
for the severability of a provision held to be void, illegal or unenforceable might not be effective.</TD></TR></TABLE>

<P STYLE="text-align: justify; margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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="text-align: justify; width: 0"></TD><TD STYLE="text-align: justify; width: 0.5in">4.5</TD><TD STYLE="text-align: justify">The Courts of the Cayman Islands will use their discretion in determining whether or not to exercise jurisdiction
over any particular matter brought before them having regard to all the circumstances prevailing at the time and, may, whenever it is
necessary to prevent injustice, stay or strike out an action or other proceedings or restrain the institution or continuance of proceedings
in foreign courts or the enforcement of foreign judgments.</TD></TR></TABLE>

<P STYLE="text-align: justify; margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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="text-align: justify; width: 0"></TD><TD STYLE="text-align: justify; width: 0.5in">4.6</TD><TD STYLE="text-align: justify">In the event that the Documents are executed in or brought within the jurisdiction of the Cayman Islands,
(e.g., for the purposes of enforcement or obtaining payment) stamp duty of not more than CI$500.00 will be payable on each of the originals
thereof and any counterparts upon execution or receipt in the Cayman Islands. Subject thereto, stamp duty in respect of the relevant Document
will be payable within forty five (45) days of execution or receipt in the Cayman Islands. Failure to comply with the provisions of the
Stamp Duty Law 1973 (as revised) of the Cayman Islands may result in the relevant Document being rejected as evidence in a Court of the
Cayman Islands, a penalty being imposed for late, non or insufficient stamping and could also,
although it is unlikely to, result in fines and/or criminal proceedings.</TD></TR></TABLE>

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

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

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    <!-- Field: /Page -->

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&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="text-align: justify; width: 0"></TD><TD STYLE="text-align: justify; width: 0.5in">4.7</TD><TD STYLE="text-align: justify">To maintain the Company in good standing under the laws of the Cayman Islands, annual filing fees must
be paid and returns made to the Registrar of Companies within the time frame prescribed by law.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
  <TD STYLE="text-align: justify; padding-left: 10pt; text-indent: -10pt; width: 50%">Yours faithfully</TD>
  <TD STYLE="text-align: justify; padding-left: 10pt; text-indent: -10pt; width: 50%">&nbsp;</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" BORDER="0" STYLE="width: 100%; margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
  <TD STYLE="border-bottom: Black 1pt solid; text-align: justify; padding-left: 10pt; text-indent: -10pt; width: 50%"><B><I>/s/ Campbells LLP</I></B></TD>
  <TD STYLE="text-align: justify; padding-left: 10pt; text-indent: -10pt; width: 50%">&nbsp;</TD></TR>
</TABLE>


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

<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
  <TD STYLE="text-align: justify; padding-left: 10pt; text-indent: -10pt; width: 50%"><B>Campbells LLP</B></TD>
  <TD STYLE="text-align: justify; padding-left: 10pt; text-indent: -10pt; width: 50%">&nbsp;</TD></TR>
</TABLE>


<P STYLE="text-align: justify; font: 10pt Courier; margin: 0pt 0">&nbsp;&nbsp;</P>

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    <!-- Field: /Page -->

<P STYLE="text-align: justify; font: 10pt Courier; margin: 0pt 0"></P>

<P STYLE="text-align: justify; font: 10pt Courier; margin: 0pt 0">&nbsp;</P>

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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>4
<FILENAME>tm2114911d1_ex99-1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

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

<P STYLE="text-align: right; margin: 0"><B>Exhibit 99.1</B></P>

<P STYLE="margin: 0; text-align: right"><B>&nbsp;</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><IMG SRC="tm2114911d1ex99-1_005.jpg" ALT="">&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"><FONT STYLE="font-size: 10pt"><B>Farmmi, Inc.
Prices $42.0 Million Upsized Underwritten Public Offering</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt"><B>of Ordinary Shares</B></FONT></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: justify"><B>LISHUI, China, April 28, 2021</B> &ndash; Farmmi,
Inc. (&ldquo;Farmmi&rdquo; or the &ldquo;Company&rdquo;) (NASDAQ: FAMI), an agriculture products supplier in China, today announced the
pricing of an upsized underwritten public offering with gross proceeds to the Company expected to be approximately $42.0 million, before
deducting underwriting discounts and commissions and other estimated offering expenses payable by the Company. The public offering equates
to 140,000,000 of the Company&rsquo;s ordinary shares at a price of $0.30 per share. The Company intends to use the net proceeds from
this offering for working capital and general corporate purposes. The closing of the offering is expected to occur on May 3, 2021, subject
to customary closing conditions.</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">The Company has also granted the underwriter a
45-day option to purchase up to an additional 15% of the number of ordinary shares offered in the public offering to cover over-allotments,
if any, which would increase the total gross proceeds of the offering to approximately $48.3 million, if the over-allotment option is
exercised in full.</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; background-color: white; color: #1D2228"><B>Aegis
Capital Corp. is acting as the sole book-running manager for the offering.</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; background-color: white">The ordinary shares described
above are being offered by Farmmi, Inc. <FONT STYLE="color: #1D2228">pursuant to an effective registration statement on Form F-1 (No.
333-255387) previously filed with the U.S. Securities and Exchange Commission (the &ldquo;SEC&rdquo;) and declared effective by the SEC
on April 28, 2021. A </FONT>final <FONT STYLE="color: #1D2228">prospectus (the &ldquo;Prospectus&rdquo;) describing the terms of the proposed
offering will be filed with the SEC and will be available on the SEC&rsquo;s website located at http://www.sec.gov. Electronic copies
of the Prospectus may be obtained, when available, by contacting Aegis Capital Corp., Attention: Syndicate Department, 810 7th Avenue,
18th floor, New York, NY 10019, by email at syndicate@aegiscap.com, or by telephone at (212) 813-1010. Before investing in this offering,
interested parties should read in their entirety the Prospectus and the other documents that the Company has filed with the SEC that are
incorporated by reference in such Prospectus, which provide more information about the Company and such offering.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white; color: #1D2228">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">This press release shall not constitute an offer
to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such
offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.</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>About Farmmi, Inc.</B></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: justify">Headquartered in Lishui, Zhejiang, Farmmi, Inc.
(NASDAQ: FAMI), is a leading agricultural products supplier, processor and retailer of Shiitake mushrooms, Mu Er mushrooms, other edible
fungi and other agricultural products. For further information about the Company, please visit: http://ir.farmmi.com.cn/.</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>

<!-- Field: Page; Sequence: 1; Options: NewSection -->
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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<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>Forward-Looking Statements</B></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: justify">This announcement contains forward-looking statements
within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements
of historical fact in this announcement are forward-looking statements, including the potential impact of COVID-19 on our business within
and outside of China. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations
and projections about future events and financial trends that the Company believes may affect its financial condition, results of operations,
business strategy and financial needs. Investors can identify these forward-looking statements by words or phrases such as &quot;may,&quot;
&quot;will,&quot; &quot;expect,&quot; &quot;anticipate,&quot; &quot;aim,&quot; &quot;estimate,&quot; &quot;intend,&quot; &quot;plan,&quot;
&quot;believe,&quot; &quot;potential,&quot; &quot;continue,&quot; &quot;is/are likely to&quot; or other similar expressions. The Company
undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its
expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking
statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors
that actual results may differ materially from the anticipated results.</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>For more information, please contact Investor Relations:</B></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">Global IR Partners</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">New York Office Phone: +1-914-337-8801</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><U>FAMI@Globalirpartners.com</U></P>



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

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

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

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<DOCUMENT>
<TYPE>EX-99.2
<SEQUENCE>5
<FILENAME>tm2114911d1_ex99-2.htm
<DESCRIPTION>EXHIBIT 99.2
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

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

<P STYLE="text-align: right; margin: 0"><B>Exhibit 99.2</B></P>

<P STYLE="margin: 0">&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"><IMG SRC="tm2114911d1ex99-1_006.jpg" ALT=""><B>&nbsp;</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Farmmi,
Inc. Closes $48.3 Million Upsized Underwritten Public Offering of Ordinary Shares Including Exercise of the Over-Allotment</B></FONT></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: justify"><B>LISHUI, China, May 3, 2021</B> &ndash; Farmmi,
Inc. (&quot;Farmmi&quot; or the &quot;Company&quot;) (NASDAQ: FAMI), an agriculture products supplier in China, today announced that it
has completed an upsized underwritten public offering (the &ldquo;Offering&rdquo;) with gross proceeds to the Company expected to be approximately
$48.3 million, before deducting underwriting discounts and commissions and other estimated offering expenses payable by the Company. The
Offering was upsized from a $35 million base to a $42 million base, with an aggregate offering of $48.3 million, including the successful
execution of the over-allotment. The Offering included 140,000,000 of the Company&rsquo;s ordinary shares, and 21,000,000 additional shares
from the exercise of the underwriter&rsquo;s option to purchase such shares to cover over-allotments at the public offering price of $0.30
per share. The Company intends to use the net proceeds from this offering for working capital and general corporate 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; background-color: white; color: #1D2228"><B>Aegis
Capital Corp. has acted as the sole book-running manager for the offering.</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; background-color: white">The ordinary shares described
above are being offered by Farmmi, Inc. <FONT STYLE="color: #1D2228">pursuant to an effective registration statement on Form F-1 (No.
333-255387) previously filed with the U.S. Securities and Exchange Commission (the &ldquo;SEC&rdquo;) and declared effective by the SEC
on April 28, 2021. A final prospectus (the &ldquo;Prospectus&rdquo;) describing the terms of the proposed offering has been filed with
the SEC and is available on the SEC&rsquo;s website located at http://www.sec.gov. Electronic copies of the final prospectus may be obtained
by contacting Aegis Capital Corp., Attention: Syndicate Department, 810 7th Avenue, 18th floor, New York, NY 10019, by email at syndicate@aegiscap.com,
or by telephone at (212) 813-1010. </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white; color: #1D2228">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white; color: #1D2228">This
press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities
in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under
the securities laws of any such state or jurisdiction.</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>About Farmmi, Inc.</B></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: justify">Headquartered in Lishui, Zhejiang, Farmmi, Inc.
(NASDAQ: FAMI), is a leading agricultural products supplier, processor and retailer of Shiitake mushrooms, Mu Er mushrooms, other edible
fungi and other agricultural products. For further information about the Company, please visit: http://ir.farmmi.com.cn/.</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>

<!-- Field: Page; Sequence: 1 -->
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    <!-- Field: /Page -->

<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>Forward-Looking Statements</B></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: justify">This announcement contains forward-looking
statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements
other than statements of historical fact in this announcement are forward-looking statements, including the potential impact of
COVID-19 on our business within and outside of China. These forward-looking statements involve known and unknown risks and
uncertainties and are based on current expectations and projections about future events and financial trends that the Company
believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can identify
these forward-looking statements by words or phrases such as &quot;may,&quot; &quot;will,&quot; &quot;expect,&quot;
&quot;anticipate,&quot; &quot;aim,&quot; &quot;estimate,&quot; &quot;intend,&quot; &quot;plan,&quot; &quot;believe,&quot;
&quot;potential,&quot; &quot;continue,&quot; &quot;is/are likely to&quot; or other similar expressions. The Company undertakes no
obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its
expectations, except as may be required by law. Although the Company believes that the expectations expressed in these
forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company
cautions investors that actual results may differ materially from the anticipated results.</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>For more information, please contact Investor Relations:</B></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">Global IR Partners</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">New York Office Phone: +1-914-337-8801</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><U>FAMI@Globalirpartners.com</U></P>



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

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

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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
