UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

 

PURSUANT TO SECTION 13 OR 15(d) OF

THE SECURITIES EXCHANGE ACT OF 1934

 

Date of Report (Date of earliest event reported): July 30, 2018 (July 24, 2018)

 

GSRX INDUSTRIES INC.

(Exact name of registrant as specified in its charter)

 

Nevada   333-141929   14-1982491

(State or other jurisdiction

of incorporation)

 

(Commission

File Number)

 

(I.R.S. Employer

Identification Number)

 

Building No. 3, P.E. 606, int. Jose Efron Ave.

Dorado, Puerto Rico 00646

(Address of principal executive offices) (zip code)

 

(214) 808-8649

(Registrant’s telephone number, including area code)

 

 

(Former name or former address, if changed since last report)

 

Copy to:

Darrin M. Ocasio, Esq.

Sichenzia Ross Ference Kesner LLP

1185 Avenue of the Americas, 37th Floor

New York, New York 10036

Phone: (212) 930-9700

Fax: (212) 930-9725

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

 

[  ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
   
[  ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
   
[  ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
   
[  ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

 

 
 

 

Item 1.01 Entry into a Material Definitive Agreement.

 

Amended and Restated Consulting Agreement

 

As previously reported, on March 12, 2018, GSRX Industries Inc. (the “ Company ”) entered into an amended and restated consulting agreement (the “ Consulting Agreement ”) with Peach Management, LLC, an entity controlled by Mr. Christian Briggs (the “ Consultant ”), Chairman of the Board of Directors of the Company. Pursuant to the Consulting Agreement, the Consultant provides certain consulting services relating to the execution of the Company’s business plan as more fully described in the agreement (the “ Consulting Services ”). In consideration of the Consulting Services, the Company agreed to pay the Consultant an aggregate of $25,000 per month, payable in accordance with the Company’s standard payroll practices.

 

On July 24, 2018, the Company amended and restated Consulting Agreement (the “ A&R Consulting Agreement ”) to provide for compensation in consideration of the Consulting Services as follows: (i) a monthly cash fee of $10,000, payable in accordance with the Company’s standard payroll practices; and (ii) 15,000 restricted shares of the Company’s common stock, par value $0.001 per share, payable quarterly, effective immediately. The foregoing description of the A&R Consulting Agreement does not purport to be complete and is subject to, and qualified in its entirety by reference to the completed text of the A&R Consulting Agreement filed as Exhibit 10.1 hereto and incorporated herein by reference.

 

Amended and Restated Executive Consulting Agreement

 

As previously reported, on March 27, 2018, the Company entered into an executive consulting agreement (the “ Executive Consulting Agreement ”) with Thomas Gingerich, the Company’s Chief Financial Officer and Secretary. Pursuant to the Executive Consulting Agreement, Mr. Gingerich provides such services and performs such duties and functions customarily performed by, and has all of the responsibilities customary to, the role of Chief Financial Officer and Secretary of the Company and all of its subsidiaries, as more fully described in the agreement (the “ Executive Services ”). The Executive Consulting Agreement provides that Mr. Gingerich shall be entitled to receive a monthly cash fee of $17,500, payable in accordance with the Company’s standard payroll practices.

 

On July 24, 2018, the Company amended and restated the Executive Consulting Agreement (the “ A&R Executive Consulting Agreement ”) to provide for compensation in consideration of the Executive Services as follows: (i) a monthly cash fee of $10,000, payable in accordance with the Company’s standard payroll practices; and (ii) 15,000 restricted shares of the Company’s common stock, par value $0.001 per share, payable quarterly, effective immediately. The foregoing description of the A&R Executive Consulting Agreement does not purport to be complete and is subject to, and qualified in its entirety by reference to the completed text of the A&R Executive Agreement filed as Exhibit 10.2 hereto and incorporated herein by reference.

 

In connection with the foregoing issuances, the Company relied upon the exemption from securities registration provided by Section 4(a)(2) under the Securities Act of 1933, as amended (the “ Securities Act ”) for transactions not involving a public offering.

 

Item 3.02 Unregistered Sales of Equity Securities.

 

Reference is made to the disclosure made under Item 1.01 which is incorporated herein by reference.

 

Item 9.01 Financial Statements and Exhibits.

 

(d) Exhibits

 

The exhibits listed in the following Exhibit Index are filed as part of this Current Report on Form 8-K.

 

Exhibit Number   Description
10.1   Form of Amended and Restated Consulting Agreement for Peach Management, LLC
10.2   Form of Amended and Restated Executive Consulting Agreement for Thomas Gingerich

 

2
 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

  GSRX INDUSTRIES INC.
     
Dated: July 30, 2018 By: /s/ Thomas Gingerich
  Name: Thomas Gingerich
  Title: Chief Financial Officer

 

3
 

 

 

AMENDED AND RESTATED CONSULTING AGREEMENT

 

This Amended and Restated Consulting Agreement (the “Agreement”) is made and entered into this 24th day of July, 2018, by and between Peach Management, LLC (hereinafter referred to as “Peach” or the “Consultant”), and GSRX Industries Inc., formerly Green Spirit Industries Inc., a Nevada corporation, and its subsidiaries (hereinafter referred to as the “Company”). The parties entered into that prior Consulting Agreement, dated January 1, 2018, as amended on March 9, 2018, and the parties now wish to amend and restate that agreement in its entirety as provided below.

 

WHEREAS , the Company desires to engage Consultant as a consultant and in connection therewith to provide certain consulting services related to the Company’s business and Consultant is willing to be engaged by the Company as a consultant and to provide such services, on the terms and conditions set forth below; and

 

NOW, THEREFORE, in consideration of the mutual covenants and agreements contained herein, the receipt and sufficiency of which are hereby acknowledged, the Company and Consultant agree as follows:

 

1. CONSULTING

 

The Company hereby retains Peach as an independent contractor; and Peach does hereby accept its position as an independent contractor to the Company, upon the terms and conditions hereinafter set forth.

 

2. DUTIES AND OBLIGATIONS:

 

2.1 The Company hereby engages Consultant to perform the services relating to the business of the Company, including, but not limited to the services listed below (the “Services”)
   
a. Assist the Company with daily management, operations and administration;
b. Assist the Company in the creation, preparation and drafting of investor presentations;
c. Advancing and promoting the growth and success of the Company;
d. Assist the Company with research, acquisition and development of new sites or businesses; and
e. Assist the Company with inventory selection and management.
   
2.2 The parties hereto acknowledge and agree that the Services to be provided are in the nature of advisory services only, and the Consultant does not have any ability to obligate or bind the  Company in any respect.
   
2.3 The Consultant represents that it has the skills necessary to perform the Services hereunder. Consultant agrees to perform the services in a skillful and professional manner that is consistent with the Company’s policies and procedures. Consultant further agrees that in providing the  Services, it shall comply, in all respects, with instructions given by the Company.

 

3. COMPENSATION

 

In consideration of the Services to be rendered by Consultant hereunder, the Company agrees to pay Peach the following: (i) a cash fee in the amount of $10,000 per month, payable in accordance with the Company’s standard practices; and (ii) 15,000 restricted shares of the Company’s common stock, par value $0.001 per share, payable quarterly.

 

     
 

 

4. MEETING EXPENSES AND COSTS

 

Consultant shall be entitled to prompt reimbursement by the Company for all reasonable ordinary and necessary for travel (and when traveling), cell phone, supplies, fuel ($200 per month), entertainment, and other expenses incurred by Consultant during the term of this Agreement, in the performance of his duties and responsibilities under this Agreement; provided, that Consultant shall obtain prior pre-approval from the Company for such expenses.

 

5. COMPANY’S DUTIES AND OBLIGATIONS

 

The Company shall have the following duties and obligations under this Agreement:

 

5.1 Cooperate fully and timely with Peach in order to enable Peach to perform its obligations under this Agreement.

 

5.2 The Company will act diligently and promptly in reviewing materials submitted to it from time to time by Peach and inform Peach of any inaccuracies of which it is aware contained therein prior to the dissemination of such materials.

 

5.3 Give full disclosure of all material facts or information concerning the Company to Peach and update such information on a timely basis.

 

6. NONDISCLOSURE

 

Consultant recognizes and acknowledges that by reason of Consultant’s retention by and service to the Company before, during and, if applicable, after the Term (as defined below), Consultant will have access to certain confidential and proprietary information relating to the Company’s business, which may include, but is not limited to, trade secrets, trade “know-how,” product development techniques and plans, formulas, customer lists and addresses, financing services, funding programs, cost and pricing information, marketing and sales techniques, strategy and programs, computer programs and software and financial information (collectively referred to as “Confidential Information”). Consultant acknowledges that such Confidential Information is a valuable and unique asset of the Company and Consultant covenants that it will not, and will take all reasonable efforts to ensure that its officers, directors, employees and agents do not, unless expressly authorized in writing by the Company, at any time during the Term (or any renewal Term) use any Confidential Information or divulge or disclose any Confidential Information to any person or entity except in connection with the performance of Consultant’s duties for the Company and in a manner consistent with the Company’s policies regarding Confidential Information. Consultant also covenants that at any time after the termination of this Agreement, directly or indirectly, it will not, and will take all reasonable efforts to ensure that its officers, directors, employees and agents do not, use any Confidential Information or divulge or disclose any Confidential Information to any person or entity, unless such information is in the public domain through no fault of Consultant or except when required to do so by a court of law, by any governmental agency having supervisory authority over the business of the Company or by any administrative or legislative body (including a committee thereof) with jurisdiction to order Consultant to divulge, disclose or make accessible such information. All written Confidential Information (including, without limitation, in any computer or other electronic format) which comes into Consultant’s possession during the Term (or any renewal Term) shall remain the property of the Company. Except as required in the performance of Consultant’s duties for the Company, or unless expressly authorized in writing by the Company, the Consultant, its officers, directors, employees and agents shall not remove any Confidential Information from the Company’s premises, except in connection with the performance of Consultant’s duties for the Company and in a manner consistent with the Company’s policies regarding Confidential Information. Upon termination of this Agreement, the Consultant agrees to return immediately to the Company all written Confidential Information (including, without limitation, in any computer or other electronic format) in Consultant’s possession.

 

     
 

 

7. INDEPENDENT CONTRACTOR

 

It is understood and agreed that this Agreement does not create any relationship of association, partnership or joint venture between the parties, nor constitute either party as the agent or legal representative of the other for any purpose whatsoever; and the relationship of Consultant to the Company for all purposes shall be one of independent contractor. Neither party shall have any right or authority to create any obligation or responsibility, express or implied, on behalf or in the name of the other, or to bind the other in any manner whatsoever.

 

8. INDEMNIFICATION

 

Consultant will indemnify the Company and hold it harmless from and against all claims, damages, losses and expenses, including court costs and reasonable fees and expenses of attorneys, expert witnesses and other professionals, arising out of or resulting from: (a) any action by a third party against the Company that is based on any claim that any Services performed by Consultant under this Agreement, or their results, infringe a patent, copyright or other proprietary right, misappropriate a trade secret or breach an agreement; (b) any action by a third party that is based on any negligent act or omission or willful conduct of Consultant and which results in: (i) any damage or destruction to tangible or intangible property (including computer programs and data) or any loss of use resulting from the performance by the Consultant of the Services; or (ii) any violation by the Consultant of any statute, law, ordinance or regulation; and (c) the Consultant’s failure to provide the Services in a manner that is consistent with the policies and procedures of the Company.

 

9. TERM

 

Subject to the provisions for termination hereinafter provided, the term of this Agreement shall commence on the date hereof (the “Effective Date”) and shall continue on a month to month basis (the “Term”) unless either party provides the other party with written notice of its intention not to continue this Agreement at least 30 days prior to the termination date.

 

Change of Control . If following a Change of Control (defined below), Contractor’s engagement is terminated without Cause or voluntarily terminated by Contractor, Contractor shall be entitled to receive, in lieu of any payment under paragraph 4, a lump sum payment in the amount determined as follows: the product of (a) the then-current monthly consulting fee and (b) twenty-four (24); such payment to be made within 3 business days of the date of such Change of Control.

 

For purposes of this Agreement, the term “ Change of Control ” means the occurrence of one or more of the following events:

 

(a) the closing of a merger or consolidation of the Company with any corporation or other entity, other than a merger or consolidation which would result in the voting securities of the Company outstanding immediately prior thereto continuing to represent (either by renaming outstanding securities or by being converted into voting securities of the surviving entity) more than 50% of the combined voting power of the voting securities of the Company or such surviving entity outstanding immediately after such merger or consolidation;

 

     
 

 

(b) a change in ownership of the Company through a transaction or series of transactions, such that any person or entity is or becomes the beneficial owner, directly or indirectly, of stock or other securities of the Company representing 50% or more of the combined voting power of the Company’s then outstanding stock or other securities;

 

(c) the closing of any agreement for the sale or disposition of all or substantially all of the Company’s assets; or

 

(d) a transfer of all or substantially all of the Company’s assets pursuant to a partnership or joint venture agreement where the Company’s resulting interest is or becomes 50% or less.

 

10. MISCELLANEOUS

 

10.1. Notices. Any notice or other communication required or permitted to be given hereunder shall be in writing, and shall be deemed to have been duly given when delivered personally or sent by registered or certified mail, return receipt request, postage prepaid to the parties hereto at their addresses indicated hereinafter. Either party may change his or its address for the purpose of this paragraph by written notice similarly given.
   
10.2 Entire Agreement. This Agreement represents the entire agreement between the Parties in  relation to its subject matter and supersedes and voids all prior agreements between such Parties  relation to such subject matter.
   
10.3 Amendment of Agreement. This Agreement may be altered or amended, in whole or in part, only in writing signed by both parties.
   
10.4 Waiver. No waiver of any breach or condition of its Agreement shall be deemed to be a waiver of  any other subsequent breach or condition, whether of alike or different nature, unless such shall  be signed by the person making such waivers and/or which so provides by its terms.
   
10.5 Captions. The captions appearing in this Agreement are inserted as matter of convenience and for reference and in no way affect this Agreement, define, limit or describe its scope or any of its provisions.
   
10.6 Situs. This Agreement shall be governed by and construed in accordance with the laws of the  State of Texas, without reference to the conflict of Laws provisions thereof.
   
10.7 Benefits; Assignment. This Agreement shall inure to the benefit of and be binding upon the  parties hereto, their successors and permitted assigns. This Agreement may not be assigned by  either party without the written consent of the other party.
   
10.8 Currency. In all instances, references to monies used in this Agreement shall be deemed to be  United States dollars.

 

This Agreement may be executed in counterpart via email and/or by fax transmission, with each counterpart being deemed an original.

 

[ SIGNATURE PAGE FOLLOWS ]

 

     
 

 

IN WITNESS WHEREOF, the parties have executed this Agreement on the day and year first above written.

 

GSRX Industries Inc.

 

By:     Date:                                 
Title: CEO        
Name: Les Ball                            
           
CONFIRMED AND AGREED        

 

Peach Management, LLC  
     
By:    
 

Christian Briggs, Manager

 

 

     
 

 

AMENDED AND RESTATED EXECUTIVE CONSULTING AGREEMENT

 

THIS EXECUTIVE CONSULTING AGREEMENT (the “Agreement”), is made and entered into as of the 24th day of July, 2018 (the “Effective Date”), by and between GSRX Industries Inc., formerly Green Spirit Industries Inc., a Nevada corporation and its subsidiaries (hereinafter referred to as the “Company”), and Thomas Gingerich (“Consultant”). The parties entered into that prior Executive Consulting Agreement, dated March 27, 2018, and the parties now wish to amend and restate that agreement in its entirety as provided below.

 

WHEREAS , the Consultant has served as the Company’s Chief Financial Officer and Secretary since May 2017;

 

WHEREAS , the Company and Consultant each desire to enter into this Agreement, pursuant to which the Company shall engage the Consultant to provide services and to act as the Chief Financial Officer and Secretary of the Company, and to reflect the terms of Consultant’s continued services and role with the Company on the terms and conditions set forth below;

 

NOW, THEREFORE , in consideration of the mutual covenants and agreements contained herein, the receipt and sufficiency of which are hereby acknowledged, the Company and Consultant agree as follows:

 

1. Engagement . The Company hereby engages the Consultant to provide and to perform the duties and functions customarily performed by, and have all the responsibilities customary to the role of Chief Financial Officer and Secretary of the Company and any of its subsidiaries or affiliates from time to time (collectively, the “Services”), and such other duties reasonably related thereto as may be assigned by the Company from time to time, and the Consultant hereby accepts such engagement by the Company on the terms and subject to the conditions set forth in this Agreement.

 

2. Duties of Consultant.

 

(a) The Company hereby engages Consultant to perform the services listed on the attached Exhibit A (the “Services”) during the Term (as defined below). Notwithstanding the foregoing, the Services shall not (unless the Consultant is appropriately licensed, registered or there is an exemption available from such licensing or registration) include, directly or indirectly any activities which require the Consultant to register as a broker-dealer under the Securities Exchange Act of 1934, as amended.

 

3. Term . Subject to the provisions for termination hereinafter provided, the term of this Agreement shall commence on the Effective Date and shall continue until terminated as provided herein (the “Term”).

 

4. Compensation . In consideration of the Services to be rendered by Consultant hereunder, during the Term the Company agrees to pay the Consultant as follows:

 

(a) Payment. In consideration for the Services provided to the Company by the Consultant, the Company shall pay the Consultant the following: (i) a cash fee of $10,000 per month, payable in accordance with the Company’s standard practices; and (ii) 15,000 restricted shares of the Company’s common stock, par value $0.001 per share, payable quarterly (the “Base Consulting Fee”).

 

 

 

 

(b) Annual Increase . The Base Consulting Fee may be adjusted from time to time, by mutual written agreement of the parties to reflect, amongst other things cost of living increases and compensation paid to executive officers of companies similar to the Company.

 

(c) Bonus . As additional consideration for the Services provided by the Consultant during the Term, the Consultant shall be entitled to receive additional, variable performance incentive bonuses in the form of cash or equity, the amount of which, if any, shall be determined by the Board of Directors of the Company in its sole discretion.

 

5. Expenses . Consultant shall be entitled to prompt reimbursement by the Company for all reasonable ordinary and necessary travel, entertainment, and other expenses, including, but not limited to, cellular telephone expenses, incurred by Consultant during the term of this Agreement, including any renewal or extension terms (in accordance with the policies and procedures established by the Company) in the performance of his duties and responsibilities under this Agreement; provided, that Consultant shall properly account for such expenses in accordance with Company policies and procedures.

 

6. Termination . Either party may, in its discretion and at its option terminate this Agreement at any time upon thirty (30) days’ written notice to the other party.

 

(a) Change of Control . In the event that this Agreement is terminated due to a Change of Control (defined below) occurring during the Term, then Consultant shall be entitled to receive, in lieu of any payment under Section 4 hereof, a lump sum payment in the amount determined as follows: the product of (a) the then-current Base Consulting Fee and (b) twenty-four (24) months, with such payment to be made within seven three (3) business days of the date of such Change of Control.

 

For the purposes of this Agreement, the term “Change of Control” means the occurrence of one or more of the following events:

 

(i) the closing of a merger or consolidation of the Company with any corporation or other entity, other than a merger or consolidation which would result in the voting securities of the Company outstanding immediately prior thereto continuing to represent (either by renaming outstanding securities or by being converted into voting securities of the surviving entity) more than 50% of the combined voting power of the voting securities of the Company or such surviving entity outstanding immediately after such merger or consolidation;

 

(ii) a change in ownership of the Company through a transaction or series of transactions, such that any person or entity is or becomes the beneficial owner, directly or indirectly, of stock or other securities of the Company representing 50% or more of the combined voting power of the Company’s then outstanding stock or other securities;

 

 

 

 

(iii) the closing of any agreement for the sale or disposition of all or substantially all of the Company’s assets; or

 

(iv) a transfer of all or substantially all of the Company’s assets pursuant to a partnership or joint venture agreement where the Company’s resulting interest is or becomes 50% or less.

 

7. Confidential Information . Consultant recognizes and acknowledges that by reason of Consultant’s retention by and service to the Company before, during and, if applicable, after the Term, Consultant will have access to certain confidential and proprietary information relating to the Company’s business, which may include, but is not limited to, trade secrets, trade “know-how,” product development techniques and plans, formulas, customer lists and addresses, financing services, funding programs, cost and pricing information, marketing and sales techniques, strategy and programs, computer programs and software and financial information (collectively referred to as “Confidential Information”). Consultant acknowledges that such Confidential Information is a valuable and unique asset of the Company and Consultant covenants that he will not, unless expressly authorized in writing by the Company, at any time during the Term (or any renewal Term) use any Confidential Information or divulge or disclose any Confidential Information to any person or entity except in connection with the performance of Consultant’s duties for the Company and in a manner consistent with the Company’s policies regarding Confidential Information. Consultant also covenants that at any time after the termination of this Agreement, directly or indirectly, he will not use any Confidential Information or divulge or disclose any Confidential Information to any person or entity, unless such information is in the public domain through no fault of Consultant or except when required to do so by a court of law, by any governmental agency having supervisory authority over the business of the Company or by any administrative or legislative body (including a committee thereof) with jurisdiction to order Consultant to divulge, disclose or make accessible such information. All written Confidential Information (including, without limitation, in any computer or other electronic format) which comes into Consultant’s possession during the Term (or any renewal Term) shall remain the property of the Company. Except as required in the performance of Consultant’s duties for the Company, or unless expressly authorized in writing by the Company, Consultant shall not remove any Confidential Information from the Company’s premises, except in connection with the performance of Consultant’s duties for the Company and in a manner consistent with the Company’s policies regarding Confidential Information. Upon termination of this Agreement, the Consultant agrees to return immediately to the Company all written Confidential Information (including, without limitation, in any computer or other electronic format) in Consultant’s possession.

 

8. Indemnification . Notwithstanding this Agreement, the Consultant agrees to indemnify the Company, to the fullest extent permitted by law, against all losses, costs, demands, damages, expenses and claims howsoever incurred by the Company in relation to the taxation treatment of the payments made under this Agreement or as a result of the breach by the Consultant of any terms of this Agreement.

 

 

 

 

9. Conflict of Interest . The Consultant covenants to the Company that there is no conflict of interest in connection with the retention by the Company of the Consultant pursuant to this Agreement.

 

10. Waiver of Breach . The waiver by any party hereto of a breach of any provision of this Agreement shall not operate nor be construed as a waiver of any subsequent breach.

 

11. Binding Effect; Benefits . The Consultant may not assign his rights hereunder without the prior written consent of the Company, and any such attempted assignment without such consent shall be null and void and without effect. This Agreement shall inure to the benefit of, and shall be binding upon, the parties hereto and their respective successors, permitted assigns, heirs and legal representatives.

 

12. Notices . All notices and other communications which are required or may be given under this Agreement shall be in writing and shall be deemed to have been duly given (a) when delivered in person, (b) one (1) business day after being mailed with a nationally recognized overnight courier service, or (c) three (3) business days after being mailed by registered or certified first class mail, postage prepaid, return receipt requested, to the parties hereto at:

 

  If to the Company, to : GSRX Industries Inc.
    5141 Virginia Way, Suite 465
    Brentwood, TN 37027
     
  If to the Consultant, to: Thomas Gingerich
    1516 Kendal Drive
    Mansfield, TX 76073

 

13. Entire Agreement; Amendments . This Agreement contains the entire agreement and supersedes all prior agreements and understandings, oral or written, between the parties hereto with respect to the subject matter hereof. This Agreement may not be changed orally, but only by an agreement in writing signed by the party against whom any waiver, change, amendment, modification or discharge is sought.

 

14. Severability . The invalidity of all or any part of any provision of this Agreement shall not render invalid the remainder of this Agreement or the remainder of such provision. If any provision of this Agreement is so broad as to be unenforceable, such provision shall be interpreted to be only so broad as is enforceable.

 

15. Governing Law; Consent to Jurisdiction . This Agreement shall be governed by and construed in accordance with the laws of the State of New York irrespective of any conflict of laws principles. The parties hereby agree that any action or proceeding with respect to this Agreement (and any action or proceeding with respect to any amendments or replacements hereof or transactions relating hereto) may be brought only in a federal or state court located in New York, State of New York and having jurisdiction with respect to such action or proceeding. Each of the parties hereto irrevocably consents and submits to the jurisdiction of such courts.

 

16. Headings . The headings herein are inserted only as a matter of convenience and reference, and in no way define, limit or describe the scope of this Agreement or the intent of the provisions thereof.

 

17. Counterparts . This Agreement may be executed in one or more counterparts, each of which shall be deemed an original and all of which together shall constitute one and the same instrument. Signatures evidenced by facsimile transmission or electronic mail will be accepted as original signatures.

 

[SIGNATURE PAGE FOLLOWS]

 

 

 

 

IN WITNESS WHEREOF, the parties have caused this Agreement to be duly executed as of the date first above written.

 

GSRX INDUSTRIES INC.  
     
By:    
Name: Les Ball  
Title Chief Executive Officer  
     
THOMAS GINGERICH