Compass Venture Inc.

COMPASS�VENTURE�INC.�

NOTICE�OF�ANNUAL�MEETING�OF�SHAREHOLDERS�� TO�BE�HELD�ON�DECEMBER�20,�2022�

AND�

MANAGEMENT�INFORMATION�CIRCULAR�

DATED:�OCTOBER�26,�2022�

To�respond�to�the�COVID�19�social�distancing�recommendations,�the�Company�urges�all� shareholders�to�vote�by�proxy�in�advance�of�the�meeting�and�to�listen�to�the�Meeting�by�way�of� teleconference�call.�Please�refer�to�the�dial�in�instructions�in�the�Notice�of�Meeting.�

COMPASS�VENTURE�INC.�

NOTICE�OF�ANNUAL�MEETING�OF�SHAREHOLDERS�

TAKE�NOTICE�THAT �an�annual�meeting�(the�" Meeting ")�of�the�shareholders�of�Compass�Venture�Inc.�(the� " - Company ")�will�be�held�at�700� �595�Burrard�Street,�Vancouver,�British�Columbia,�V7X�1S8�on�Tuesday,� December�20,�2022�at�5:00�p.m.�Vancouver,�British�Columbia�time�for�the�following�purposes:�

to�receive�the�audited�financial�statements�of�the�Company�for�the�financial�year�ended�July�31,�2022� and�the�accompanying�report�of�the�auditors�thereon;�
to�appoint�Manning�Elliot�LLP,�as�the�auditor�of�the�Company�for�the�ensuing�year�and�to�authorize� the�directors�of�the�Company�to�fix�the�auditor’s�remuneration,�as�more�fully�described�in�the� management�information�circular�dated�October�26,�2022�(the�" Management�Information�Circular ")� accompanying�this�notice�of�Meeting;�
to�set�the�number�of�directors�of�the�Company�at�three�(3) ;
to�elect�Dr.�Kah�Meng�Lim,�Joshua�Siow�and�Patricia�Chow�until�the�close�of�the�next�annual�meeting� of�shareholders�of�the�Company�or�until�their�successors�are�elected�or�appointed,�as�more�fully� described�in�the�Management�Information�Circular;�
to�consider�and�if�deemed�appropriate,�to�pass,�with�or�without�variation,�an�ordinary�resolution�of� shareholders�of�the�Company�to�approve�the�amendment�of�the�Company’s�current�stock�option� plan�to�comply�with�the�policies�of�the�TSX�Venture�Exchange;�and�
to�transact�such�other�business�as�may�be�properly�brought�before�the�Meeting�or�any�postponement� or�adjournment�of�the�Meeting.��

IMPACT�OF�COVID�19�

To�proactively�deal�with�the�unprecedented�public�health�impact�of�the�coronavirus,�also�known�as� COVID�19�(" COVID�19 ")�and�Provincial�and�Federal�guidance�regarding�public�gatherings,�shareholders� and�proxyholders�are�strongly�encouraged�NOT�to�attend�the�Meeting�in�person.�The�COVID�19�virus� is�causing�unprecedented�social�and�economic�disruption�and�we�want�to�ensure�that�no�one�is� unnecessarily�exposed�to�any�risks.�Furthermore,�so�that�the�Company�can�mitigate�potential�risks�to� the�health�and�safety�of�shareholders,�employees,�and�the�community,�there�will�be�strict�limitations� on�the�number�of�persons�permitted�entry�to�the�Meeting�and�anyone�who�is�not�a�registered� shareholder�or�proxyholder�will�not�be�permitted�entry.�The�COVID�19�situation�is�dynamic�and� continues�to�evolve�daily.�If�events�arise�that�require�the�Company�to�make�changes�to�the�date,�time� and/or�location�of�the�Meeting�it�will�promptly�notify�shareholders�and�communicate�any�changes� through�a�press�release.�The�Company�intends�to�resume�holding�unrestricted�in�person�shareholder’s� meetings�in�future�years.�

The�Company�urges�all�shareholders�to�vote�by�proxy�IN�ADVANCE�of�the�Meeting�in�accordance�with� the�instructions�set�out�below�and�to�listen�to�the�Meeting�through�the�live�Microsoft�Teams�conference� call�details�provided�below:�

Link:� Please� email� Boughton� Law� Corporation,� Counsel� to� the� Company,� at� [email protected]�prior�to�the�Meeting�to�obtain�the�Microsoft�Teams�link�and� Passcode.�

Dial�In� �+1�604�542�6813,[PASSCODE]#��Canada,�Vancouver�

Option:� +1�(844)�784�9977,,[PASSCODE]#��Canada�(Toll�free)�

Shareholders�who�dial�in�to�the�Meeting�through�the�call�details�above�will�not�be�able�to�vote�on�the� matters�put�forth�at�the�Meeting.�Only�those�registered�shareholders�or�duly�appointed�proxyholders�who� attend�the�Meeting�in�person�will�be�permitted�to�vote�at�the�Meeting.�

Only�shareholders�of�record�as�of�October�24,�2022�are�entitled�to�notice�of�the�Meeting�and�to�vote�at� the�Meeting�or�at�any�adjournment�or�postponement�thereof.�

It�is�desirable�that�as�many�common�shares�as�possible�be�represented�at�the�Meeting.�Due�to�COVID�19,� shareholders�are�requested�not�to�attend�the�Meeting,�and�instead�requested�to�vote�by�proxy�by� following�the�instructions�provided�in�the�enclosed�form�of�proxy�at�least�48�hours�(excluding�Saturdays,� Sundays�and�holidays�recognized�in�the�Province�of�British�Columbia)�before�the�time�and�date�of�the� Meeting�or�any�adjournment�or�postponement�thereof.�

If�you�are�a�non�registered�shareholder�of�the�Company�and�received�this�Notice�and�accompanying� materials�through�a�broker,�a�financial�institution,�a�participant,�a�trustee�or�administrator�of�a�retirement� savings�plan,�retirement�income�fund,�education�savings�plan�or�other�similar�savings�or�investment�plan� registered�under�the� Income�Tax�Act �(Canada),�or�a�nominee�of�any�of�the�foregoing,�that�holds�your� securities�on�your�behalf�(an�" Intermediary "),�please�complete�and�return�the�materials�in�accordance� with�the�instructions�provided�to�you�by�your�Intermediary.�

Late�instruments�of�proxy�may�be�accepted�or�rejected�by�the�Chairman�of�the�Meeting�in�his�discretion� and�the�Chairman�is�under�no�obligation�to�accept�or�reject�any�particular�late�instruments�of�proxy.�

DATED �at�Vancouver,�British�Columbia�this�26[th] �day�of�October,�2022.

By�Order�of�the�Board�of�Directors�of�Compass�Venture�Inc.

(signed)�" Dr.�Kah�Meng�Lim "�

Dr.�Kah�Meng�Lim

Chief�Executive�Officer�and�Director

ii�

COMPASS�VENTURE�INC.� MANAGEMENT�INFORMATION�CIRCULAR�

This�management�information�circular�(this�" Management�Information�Circular ")�is�provided�in� connection�with�the�solicitation�of�proxies�by�management�of�Compass�Venture�Inc.�(the�" Company "�or� " we ")�for�use�at�an�annual�meeting�(the�" Meeting ")�of�the�holders�(" Shareholders ")�of�common�shares� (" Common�Shares") �in�the�capital�of�the�Company.�The�Meeting�will�be�held�on�Tuesday,�December�20,� 2022�at�5:00�p.m.�Vancouver,�British�Columbia�time,�at�the�registered�and�records�office�of�the�Company,� - Boughton�Law�Corporation,�at�700� �595�Burrard�Street,�Vancouver,�British�Columbia,�V7X�1S8�or�at�such� other�time�or�place�to�which�the�Meeting�may�be�adjourned,�for�the�purposes�set�forth�in�the�notice�of� annual�and�special�meeting�accompanying�this�Management�Information�Circular�(the�" Notice ").�

GENERAL�PROXY�INFORMATION�

Solicitation�of�Proxies�

Although�it�is�expected�that�the�solicitation�of�proxies�will�be�primarily�by�mail,�proxies�may�also�be� solicited�personally�or�by�telephone,�facsimile�or�other�means�of�electronic�communication.�In�accordance� with�National�Instrument�54�101�� Communication�with�Beneficial�Owners�of�Securities�of�a�Reporting� Issuer �(" NI�54�101 "),�arrangements�have�been�made�with�brokerage�houses�and�other�intermediaries,� clearing�agencies,�custodians,�nominees�and�fiduciaries�to�forward�solicitation�materials�to�the�beneficial� owners�of�the�Common�Shares�held�of�record�by�such�persons�and�the�Company�may�reimburse�such� persons�for�reasonable�fees�and�disbursements�incurred�by�them�in�doing�so.�

These�securityholder�materials�are�being�sent�to�both�registered�and�non�registered�owners�of�Common� Shares.�If�you�are�a�non�registered�owner�of�Common�Shares,�and�the�Company�or�its�agent�has�sent�these� materials�directly�to�you,�your�name�and�address�and�information�about�your�holdings�of�Common�Shares� have�been�obtained�in�accordance�with�applicable�securities�regulatory�requirements�from�the� intermediary�holding�Common�Shares�on�your�behalf.�

Accompanying�this�Management�Information�Circular�(and�filed�with�applicable�securities�regulatory� authorities)�is�a�form�of�proxy�for�use�at�the�Meeting�(an�" Instrument�of�Proxy ").�Each�Shareholder�who� is�entitled�to�attend�at�meetings�of�shareholders�is�encouraged�to�participate�in�the�Meeting�and�all� Shareholders�are�urged�to�vote�on�matters�to�be�considered�in�person�or�by�proxy.�

Unless�otherwise�stated,�the�information�contained�in�this�Management�Information�Circular�is�given�as� of�October�26,�2022�(the�" Effective�Date ") .

All�time�references�in�this�Management�Information�Circular�are�references�to�Vancouver,�British� Columbia�time.�

APPOINTMENT�AND�REVOCATION�OF�PROXIES�

Appointment�of�a�Proxy�

Those�Shareholders�who�wish�to�be�represented�at�the�Meeting�by�proxy�must�complete�and�deliver�a� proper�form�of�proxy�to�Computershare�Investor�Services�Inc.�(the�" Transfer�Agent ")�pursuant�to�the� instructions�in�the�enclosed�Instrument�of�Proxy.��The�persons�named�as�proxyholders�in�the�Instrument� of�Proxy�accompanying�this�Management�Information�Circular�are�directors�or�officers�of�the�Company,�

or�persons�designated�by�management�of�the�Company,�and�are�representatives�of�the�Company’s� management�for�the�Meeting .�A�Shareholder�who�wishes�to�appoint�some�other�person�(who�need�not� be�a�Shareholder)�to�attend�and�act�for�him,�her�or�it�and�on�his,�her�or�its�behalf�at�the�Meeting�other� than�the�management�nominee�designated�in�the�Instrument�of�Proxy�may�do�so�by�either:�(i)�crossing� out�the�names�of�the�management�nominees�AND�legibly�printing�the�other�person’s�name�in�the�blank� space�provided�in�the�accompanying�Instrument�of�Proxy;�or�(ii)�completing�another�valid�form�of�proxy. In�either�case,�the�completed�form�of�proxy�must�be�delivered�to�the�Transfer�Agent,�at�the�place�and� within�the�time�specified�herein�for�the�deposit�of�proxies.�A�Shareholder�who�appoints�a�proxy�who�is� someone�other�than�the�management�representatives�named�in�the�Instrument�of�Proxy�should�notify� such�alternative�nominee�of�the�appointment,�obtain�the�nominee’s�consent�to�act�as�proxy,�and�provide� instructions�on�how�the�Common�Shares�are�to�be�voted.�The�nominee�should�bring�personal� identification�to�the�Meeting.�In�any�case,�the�form�of�proxy�should�be�dated�and�signed�by�the� Shareholder�or�an�attorney�authorized�in�writing,�with�proof�of�such�authorization�attached�(where�an� attorney�signed�the�proxy�form).

In�order�to�validly�appoint�a�proxy,�Instruments�of�Proxy�must�be�received�by�the�Transfer�Agent�at�least�

48�hours,�excluding�Saturdays,�Sundays�and�holidays,�prior�to�the�Meeting�or�any�adjournment�or� postponement�thereof. �After�such�time,�the�Chairman�of�the�Meeting�may�accept�or�reject�a�form�of� proxy�delivered�to�him�in�his�discretion�but�is�under�no�obligation�to�accept�or�reject�any�particular�late� form�of�proxy.�

Revoking�a�Proxy�

A�Shareholder�who�has�validly�given�a�proxy�may�revoke�it�for�any�matter�upon�which�a�vote�has�not� already�been�cast�by�the�proxyholder�appointed�therein.�In�addition�to�revocation�in�any�other�manner� permitted�by�law,�a�proxy�may�be�revoked�with�an�instrument�in�writing�signed�and�delivered�to�either� the�registered�office�of�the�Company�or�the�Transfer�Agent�at�any�time�up�to�and�including�the�last� business�day�before�the�date�of�the�Meeting,�or�any�postponement�or�adjournment�thereof�at�which�the� proxy�is�to�be�used,�or�deposited�with�the�Chairman�of�the�Meeting�on�the�day�of�the�Meeting,�or�any� postponement�or�adjournment�thereof.�The�document�used�to�revoke�a�proxy�must�be�in�writing�and� completed�and�signed�by�the�Shareholder�or�his�or�her�attorney�authorized�in�writing�or,�if�the�Shareholder� is�a�Company,�under�its�corporate�seal�or�by�an�officer�or�attorney�thereof�duly�authorized.�

Also,�a�Shareholder�who�has�given�a�proxy�may�attend�the�Meeting�in�person�(or�where�the�Shareholder� is�a�Company,�its�authorized�representative�may�attend),�revoke�the�proxy�(by�indicating�such�intention� to�the�Chairman�before�the�proxy�is�exercised)�and�vote�in�person�(or�withhold�from�voting).�

Signature�on�Proxies�

The�form�of�proxy�must�be�signed�by�the�Shareholder�or�his�or�her�duly�appointed�attorney�authorized�in� writing�or,�if�the�Shareholder�is�a�Company,�by�a�duly�authorized�officer�whose�title�must�be�indicated.�A� form�of�proxy�signed�by�a�person�acting�as�attorney�or�in�some�other�representative�capacity�should� indicate�that�person’s�capacity�(following�his�signature)�and�should�be�accompanied�by�the�appropriate� instrument�evidencing�qualification�and�authority�to�act�(unless�such�instrument�has�been�previously�filed� with�the�Company).�

2�

Voting�of�Proxies�

Each�Shareholder�may�instruct�his,�her�or�its�proxyholder�how�to�vote�his,�her�or�its�Common�Shares�by� completing�the�blanks�on�the�Instrument�of�Proxy.�

The�Common�Shares�represented�by�the�enclosed�Instrument�of�Proxy�will�be�voted�or�withheld�from� voting�on�any�motion,�by�ballot�or�otherwise,�in�accordance�with�any�indicated�instructions.�If�a� Shareholder�specifies�a�choice�with�respect�to�any�matter�to�be�acted�upon,�the�Common�Shares�will�be� voted�accordingly.�In�the�absence�of�such�direction,�such�Common�Shares�will�be�voted�FOR�THE� RESOLUTIONS�DESCRIBED�IN�THE�INSTRUMENT�OF�PROXY�AND�BELOW. �If�any�amendment�or�variation� to�the�matters�identified�in�the�Notice�is�proposed�at�the�Meeting�or�any�adjournment�or�postponement� thereof,�or�if�any�other�matters�properly�come�before�the�Meeting�or�any�adjournment�or�postponement� thereof,�the�accompanying�Instrument�of�Proxy�confers�discretionary�authority�to�vote�on�such� amendments�or�variations�or�such�other�matters�according�to�the�best�judgment�of�the�appointed� proxyholder.�Unless�otherwise�stated,�the�Common�Shares�represented�by�a�valid�Instrument�of�Proxy�will� be�voted�in�favour�of�the�election�of�nominees�set�forth�in�this�Management�Information�Circular�except� where�a�vacancy�among�such�nominees�occurs�prior�to�the�Meeting,�in�which�case,�such�Common�Shares� may�be�voted�in�favour�of�another�nominee�in�the�proxyholder’s�discretion.�As�at�the�Effective�Date,� management�of�the�Company�knows�of�no�such�amendments�or�variations�or�other�matters�to�come� before�the�Meeting.�

Advice�to�Beneficial�Shareholders�

The�information�set�forth�in�this�section�is�of�importance�to�many�Shareholders�of�the�Company,�as�a� substantial�number�of�Shareholders�do�not�hold�Common�Shares�in�their�own�name. �Shareholders�who� hold�their�Common�Shares�through�a�broker�or�other�intermediary�(such�as�a�financial�institution,�a� participant,�a�trustee�or�administrator�of�a�retirement�savings�plan,�retirement�income�fund,�education� savings�plan�or�other�similar�savings�or�investment�plan�registered�under�the� Income�Tax�Act �(Canada),�or� a�nominee�of�any�of�the�foregoing�(an�" Intermediary ")�that�holds�your�securities�on�your�behalf�or� Shareholders�who�otherwise�do�not�hold�their�Common�Shares�in�their�own�name�(" Beneficial� Shareholders ")�should�note�that�only�proxies�deposited�by�Shareholders�who�are�registered�shareholders� (that�is,�shareholders�whose�names�appear�on�the�records�maintained�by�the�registrar�and�transfer�agent� for�the�Common�Shares�as�registered�holders�of�Common�Shares)�will�be�recognized�and�acted�upon�at� the�Meeting.�If�Common�Shares�are�listed�in�an�account�statement�provided�to�a�Beneficial�Shareholder� by�an�Intermediary,�those�Common�Shares�will,�in�all�likelihood,�not�be�registered�in�the�Shareholder’s� name.�Such�Common�Shares�will�more�likely�be�registered�under�the�name�of�the�Shareholder’s� Intermediary�or�an�agent�of�that�Intermediary.�In�Canada,�the�vast�majority�of�such�shares�are�registered� under�the�name�of�CDS�&�Co.�(the�registration�name�for�CDS�Clearing�and�Depository�Services�Inc.,�which� acts�as�nominee�for�many�Canadian�brokerage�firms).�Common�Shares�held�by�an�Intermediary�(or�its� agent�or�nominee)�on�behalf�of�an�Intermediary’s�client�can�only�be�voted�at�the�direction�of�the�Beneficial� Shareholder.�Without�specific�instructions,�Intermediaries�(or�their�agents�and�nominees)�are�prohibited� from�voting�shares�for�their�clients.�Subject�to�the�following�discussion�in�relation�to�NOBOs�(as�defined� below),�the�Company�does�not�know�for�whose�benefit�the�shares�of�the�Company�registered�in�the�name� of�CDS�&�Co.,�an�Intermediary�or�another�nominee,�are�held.�

3�

There�are�two�categories�of�Beneficial�Shareholders�for�the�purposes�of�applicable�securities�regulatory� policy�in�relation�to�the�mechanism�of�dissemination�to�Beneficial�Shareholders�of�proxy�related�materials� and�other�security�Notes:�

Noteholder�materials�and�the�request�for�voting�instructions�from�such�Beneficial�Shareholders.�Non� objecting�beneficial�owners�(" NOBOs ")�are�Beneficial�Shareholders�who�have�advised�their�Intermediary� that�they�do�not�object�to�their�Intermediary�disclosing�ownership�information�to�the�Company,�consisting� of�their�name,�address,�e�mail�address,�securities�holdings�and�preferred�language�of�communication.� Securities�legislation�restricts�the�use�of�that�information�to�matters�strictly�relating�to�the�affairs�of�the� Company. �Objecting�beneficial�owners�(" OBOs ")�are�Beneficial�Shareholders�who�have�advised�their� intermediary�that�they�object�to�their�intermediary�disclosing�such�ownership�information�to�the� Company.�

In�accordance�with�the�requirements�of�NI�54�101,�the�Company�is�sending�the�Notice�of�Meeting,�this� Management�Information�Circular,�and�a�voting�instruction�form�or�a�form�of�proxy,�as�applicable� (collectively,�the�" Meeting�Materials "),�directly�to�NOBOs�and�indirectly�through�Intermediaries�to�OBOs.� NI�54�101�permits�the�Company,�in�its�discretion,�to�obtain�a�list�of�its�NOBOs�from�Intermediaries�and�use� such�NOBO�list�for�the�purpose�of�distributing�the�Meeting�Materials�directly�to,�and�seeking�voting� instructions�directly�from,�such�NOBOs.�As�a�result,�the�Company�is�entitled�to�deliver�Meeting�Materials� to�Beneficial�Shareholders�in�two�manners:�(a)�directly�to�NOBOs�and�indirectly�through�Intermediaries�to� OBOs;�or�(b)�indirectly�to�all�Beneficial�Shareholders�through�Intermediaries.�In�accordance�with�the� requirements�of�NI�54�101,�the�Company�is�sending�the�Meeting�Materials�directly�to�NOBOs�and� indirectly�through�Intermediaries�to�OBOs.�The�Company�will�pay�the�fees�and�expenses�of�intermediaries� for�their�services�in�delivering�Meeting�Materials�to�OBOs�in�accordance�with�NI�54�101.�

The�Company�has�used�a�NOBO�list�to�send�the�Meeting�Materials�directly�to�NOBOs�whose�names�appear� on�that�list.�If�the�Transfer�Agent�has�sent�these�materials�directly�to�a�NOBO,�such�NOBO’s�name�and� address�and�information�about�its�holdings�of�Common�Shares�have�been�obtained�from�the�Intermediary� holding�such�shares�on�the�NOBO’s�behalf�in�accordance�with�applicable�securities�regulatory� requirements.�As�a�result,�any�NOBO�of�the�Company�can�expect�to�receive�a�voting�instruction�form�from� the�Transfer�Agent.�NOBOs�should�complete�and�return�the�voting�instruction�form�to�the�Transfer�Agent� in�the�envelope�provided.�In�addition,�Internet�voting�is�available.�Instructions�in�respect�of�the�procedure� for�Internet�voting�can�be�found�in�the�voting�instruction�form.�The�Transfer�Agent�will�tabulate�the�results� of�voting�instruction�forms�received�from�NOBOs�and�will�provide�appropriate�instructions�at�the�Meeting� with�respect�to�the�shares�represented�by�such�voting�instruction�forms.�

Applicable�securities�regulatory�policy�requires�Intermediaries,�on�receipt�of�Meeting�Materials�that�seek� voting�instructions�from�Beneficial�Shareholders�indirectly,�to�seek�voting�instructions�from�Beneficial� Shareholders�in�advance�of�shareholders’�meetings�on�Form�54�101F7�–� Request�for�Voting�Instructions� Made�by�Intermediaries �(" Form�54�101F7 ").�Every�Intermediary�has�its�own�mailing�procedures�and� provides�its�own�return�instructions,�which�should�be�carefully�followed�by�Beneficial�Shareholders�in� order�to�ensure�that�their�Common�Shares�are�voted�at�the�Meeting�or�any�adjournment(s)�or� postponement(s)�thereof.�Often,�the�form�of�proxy�supplied�to�a�Beneficial�Shareholder�by�its� Intermediary�is�identical�to�the�form�of�proxy�provided�to�registered�shareholders;�however,�its�purpose� is�limited�to�instructing�the�registered�shareholder�how�to�vote�on�behalf�of�the�Beneficial�Shareholder.� Beneficial�Shareholders�who�wish�to�appear�in�person�and�vote�at�the�Meeting�should�be�appointed�as�

4�

their�own�representatives�at�the�Meeting�in�accordance�with�the�directions�of�their�Intermediaries�and� Form�54�101F7.�Beneficial�Shareholders�can�also�write�the�name�of�someone�else�whom�they�wish�to� attend�at�the�Meeting�and�vote�on�their�behalf.�Unless�prohibited�by�law,�the�person�whose�name�is� written�in�the�space�provided�in�Form�54�101F7�will�have�full�authority�to�present�matters�to�the�Meeting� and�vote�on�all�matters�that�are�presented�at�the�Meeting,�even�if�those�matters�are�not�set�out�in�Form� 54�101F7�or�this�Management�Information�Circular.�The�majority�of�Intermediaries�now�delegate� responsibility�for�obtaining�instructions�from�clients�to�Broadridge�Financial�Solutions,�Inc.�(" Broadridge ").� Broadridge�typically�mails�a�voting�instruction�form�in�lieu�of�the�form�of�proxy.�Beneficial�Shareholders� are�requested�to�complete�and�return�the�voting�instruction�form�to�Broadridge�by�mail�or�facsimile.� Broadridge�will�then�provide�aggregate�voting�instructions�to�the�Transfer�Agent,�which�tabulates�the� results�and�provides�appropriate�instructions�respecting�the�voting�of�shares�to�be�represented�at�the� Meeting�or�any�adjournment�or�postponement�thereof.�

By�choosing�to�send�the�Meeting�Materials�to�NOBOs�directly,�the�Company�(and�not�the�Intermediary� holding�Common�Shares�on�your�behalf)�has�assumed�responsibility�for�(i)�delivering�these�materials�to� you;�and�(ii)�carrying�out�your�proper�voting�instructions.�Please�return�your�voting�instructions�as� specified�in�the�request�for�voting�instructions.�

All�references�to�Shareholders�in�this�Management�Information�Circular�and�the�accompanying� Instrument�of�Proxy�and�Notice�are�to�registered�Shareholders�unless�specifically�stated�otherwise.�

VOTING�SHARES�AND�PRINCIPAL�HOLDERS�OF�VOTING�SECURITIES�

Shareholders�of�record�as�of�October�24,�2022�(the�" Record�Date ")�are�entitled�to�receive�notice�and� attend�and�vote�at�the�Meeting.�As�at�the�Effective�Date,�the�Company�had�10,450,000�issued�and� outstanding�Common�Shares.�These�Common�Shares�are�the�only�voting�shares�of�the�Company�which� are�issued�and�outstanding�as�of�the�Record�Date.�Each�Common�Share�entitles�the�Shareholder�to�one� vote�in�respect�of�any�matter�that�may�come�before�the�Meeting.�

On�a�show�of�hands,�every�individual�who�is�present�at�the�Meeting�and�is�entitled�to�vote�will�have�one� vote,�and�on�a�poll,�every�Shareholder�present�in�person�or�represented�by�a�proxy�and�every�person�who� is�a�representative�of�one�or�more�corporate�Shareholders,�will�have�one�vote�for�each�Common�Share� held�by�such�Shareholder.�

To�the�knowledge�of�the�directors�and�officers�of�the�Company,�as�at�the�Effective�Date,�no�person�or� Company�beneficially�owns,�directly�or�indirectly,�or�exercises�control�or�direction�over,�more�than�10%� of�the�issued�and�outstanding�Common�Shares,�other�than:�

Name	TypeofOwnership	NumberofCommonShares OwnedorControlledatthe EffectiveDate(1)	PercentofOutstanding CommonShares
PatriciaChow	Direct	1,700,000	16.27%

Note:�

(1) As�at�the�Effective�Date,�there�were�10,450,000�Common�Shares�issued�and�outstanding.�

5�

INDEBTEDNESS�OF�DIRECTORS�AND�OFFICERS�

No�directors�or�executive�officers�of�the�Company,�nor�any�proposed�nominee�for�election�as�a�director�of� the�Company,�nor�any�associate�or�affiliate�of�any�one�of�them,�is�or�was�indebted,�directly�or�indirectly,� to�the�Company�at�any�time�since�incorporation.�

INTEREST�OF�INFORMED�PERSONS�IN�MATERIAL�TRANSACTIONS�

Except�as�disclosed�in�this�Management�Information�Circular,�no�director�or�officer�of�the�Company,�nor� any�proposed�nominee�for�election�as�a�director�of�the�Company,�nor�any�other�insider�of�the�Company,� nor�any�associate�or�affiliate�of�any�one�of�them,�has�or�has�had,�at�any�time�since�incorporation�of�the� Company,�any�material�interest,�direct�or�indirect,�in�any�transaction�or�proposed�transaction�that�has� materially�affected�or�would�materially�affect�the�Company.�

INTEREST�OF�DIRECTORS�AND�OFFICERS�IN�MATTERS�TO�BE�ACTED�UPON�

None�of�our�directors�or�executive�officers,�nor�any�person�who�has�held�such�a�position�since�the� beginning�of�our�last�completed�financial�year�end,�nor�any�nominee�for�election�as�a�director�of�the� Company,�nor�any�associate�or�affiliate�of�the�foregoing�persons,�has�any�substantial�or�material�interest,� direct�or�indirect,�by�way�of�beneficial�ownership�of�securities�or�otherwise,�in�any�matter�to�be�acted�on� at�the�Meeting�other�than�the�election�of�directors�and�as�may�be�set�out�in�this�Management�Information� Circular.�Directors�and�executive�officers�may,�however,�be�interested�in�the�annual�shareholder�approval� of�our�stock�option�plan�as�detailed�in�" Matters�to�be�Considered�at�the�Meeting�–�Approval�of�Amended� Stock�Option�Plan ".�

STATEMENT�OF�EXECUTIVE�COMPENSATION�

The�Company�is�a�'venture�issuer'�and�is�disclosing�the�compensation�of�its�named�executive�officers�and� executive�officers�in�accordance�with�Form�51�102F6V� Statement�of�Executive�Compensation�–�Venture� Issuers .�

The�following�individuals�are�considered�the�" Named�Executive�Officers "�or�" NEOs "�for�the�purposes�of� the�disclosure:�

(a)�� our�Chief�Executive�Officer�or�CEO,�including�an�individual�performing�functions�similar�to�a�CEO;�
(b)�� our�Chief�Financial�Officer�or�CFO,�including�an�individual�performing�functions�similar�to�a�CFO;�
(c)�� the�most�highly�compensated�executive�officer�of�the�Company�and�its�subsidiaries,�other�than� the�CEO�and�CFO,�at�the�end�of�the�most�recently�completed�financial�year�whose�total� compensation�was�more�than�$150,000,�as�determined�in�accordance�with�subsection�1.3(5)�of� Form�51�102F6V�Statement�of�Executive�Compensation�–�Venture�Issuers;�and�
(d)�� each�individual�who�would�be�a�Named�Executive�Officer�under�paragraph�(c)�but�for�the�fact�the� individual�was�not�an�executive�officer�of�the�Company�and�was�not�acting�in�a�similar�capacity�as� of�July�31,�2022.�

For�the�purposes�of�the�disclosure�of�compensation�of�executive�directors�and�officers�under�Statement� of�Executive�Compensation:�

6�

" compensation�securities "�includes�stock�options,�convertible�securities,�exchangeable�securities�and� similar�instruments�including�stock�appreciation�rights,�deferred�share�units�and�restricted�stock�units� granted�or�issued�by�the�Company�or�one�of�its�subsidiaries�for�services�provided�or�to�be�provided,� directly�or�indirectly,�to�the�Company�or�any�of�its�subsidiaries;��

" executive�officer "�of�the�Company�means�an�individual�who�is�the�Chairman�or�Vice�Chairman�of�the� Board,�the�President,�a�Vice�President�in�charge�of�a�principal�business�unit,�division�or�function�including� sales,�finance�or�production,�or�any�other�individual�who�is�performing�a�policy�making�function�in�respect� of�the�Company;�

" incentive�plan "�means�any�plan�providing�compensation�that�depends�on�achieving�certain�performance� goals�or�similar�conditions�within�a�specified�period;�

" plan "�includes�any�plan,�contract,�authorization�or�arrangement,�whether�or�not�set�out�in�any�formal� document,�where�cash,�compensation�securities�or�any�other�property�may�be�received,�whether�for�one� or�more�persons;�and�

" underlying�securities "�means�any�securities�issuable�on�conversion,�exchange�or�exercise�of� compensation�securities.��

At�the�end�of�our�most�recently�completed�financial�year�ended�July�31,�2022,�we�had�two�Named� Executive�Officers,�Dr.�Kah�Meng�Lim,�the�Company's�CEO,�and�Joshua�Siow,�the�Company's�CFO�and� Corporate�Secretary.��

Section�7.1�of�the�CPC�Policy�states�that,�subject�to�certain�exceptions,�until�the�completion�of�the� Qualifying�Transaction,�no�payment�of�any�kind�may�be�made,�directly�or�indirectly,�by�a�CPC�to�a�Non� Arm’s�Length�Party�of�the�CPC�or�a�Non�Arm’s�Length�Party�to�the�Qualifying�Transaction,�or�to�any�person� engaged�in�Investor�Relations�Activities�(as�defined�in�the�CPC�Policy)�in�respect�of�the�CPC�or�the�securities� of�the�CPC�or�any�resulting�issuer�by�any�means�including:�(a)�remuneration,�which�includes,�but�is�not� limited�to:�(i)�salaries;�(ii)�consulting�fees;�(iii)�management�contract�fees�or�directors’�fees;�(iv)�finder’s� fees;�(v)�loans;�(vi)�advances;�(vii)�bonuses;�and�(b)�deposits�and�similar�payments.�

So�long�as�the�Company�is�a�CPC,�the�only�compensation�that�is�permitted�to�be�provided�to�the�directors,� executive�officers,�employees�and�consultants�of�the�Company�is�the�grant�of�incentive�stock�options.�

Named�Executive�Officer�and�Director�Compensation,�Excluding�Compensation�Securities�

The�following�table�sets�forth�information�concerning�the�compensation�(excluding�compensation� securities)�paid�to�our�NEOs�and�directors�for�the�financial�years�ended�July�31,�2022�and�2021.��

Nameandposition	Year	Salary, consulting fee,retainer or commission ($)	Bonus ($)	Committee ormeeting fees($)	Valueof perquisites	Valueofall other compensation ($)	Total compensation ($)
Dr.KahMengLim CEOandDirector	2022 2021	Nil Nil	Nil Nil	Nil Nil	Nil Nil	Nil Nil	Nil Nil
JoshuaSiow CFOandDirector	2022 2021	Nil Nil	Nil Nil	Nil Nil	Nil Nil	Nil Nil	Nil Nil

7�

Nameandposition	Year	Salary, consulting fee,retainer or commission ($)	Bonus ($)	Committee ormeeting fees($)	Valueof perquisites	Valueofall other compensation ($)	Total compensation ($)
PatriciaChow Director	2022 2021	Nil Nil	Nil Nil	Nil Nil	Nil Nil	Nil Nil	Nil Nil
CraigRollins FormerDirector(1)	2022 2021	Nil Nil	Nil Nil	Nil Nil	Nil Nil	Nil Nil	Nil Nil

Notes:�

(1) Craig�Rollins�served�as�a�director�of�the�Company�until�his�resignation�on�April�25,�2022.�

Stock�Options�and�Other�Compensation�Securities

Details�of�the�Company's�current�option�plan�are�as�defined�and�described�under�the�heading� "Stock� Option�Plans�and�Other�Incentive�Plans"� below.�The�following�table�sets�forth�all�of�the�outstanding�option� based�awards�held�by�the�NEOs�and�directors�of�the�Company�at�the�end�of�the�most�recently�completed� financial�year:�

Name		Option�basedAwards	Option�basedAwards		Share�basedAwards	Share�basedAwards	Share�basedAwards
	Numberof securities underlying unexercised options (#)	Option exercise price ($)	Option expiration date	Valueof unexercised in�the� money options ($)(1)	Numberof sharesor unitsof sharesthat havenot vested (#)	Marketor payout valueof share� based awards thathave notvested ($)	Marketor payoutvalue ofvested share�based awardsnot paidoutor distributed ($)
Dr.KahMengLim CEOandDirector	365,750	0.10	January21, 2031	Nil	Nil	Nil	Nil
JoshuaSiow CFOandDirector	365,750	0.10	January21, 2031	Nil	Nil	Nil	Nil
PatriciaChow Director	156,750	0.10	January21, 2031	Nil	Nil	Nil	Nil

Notes:�

(1) Based�on�the�difference�between�the�exercise�price�of�$0.10�and�the�closing�market�price�of�the�Common�Shares�on�the� TSXV�on�July�29,�2022,�being�the�last�day�the�common�shares�of�the�Company�traded�during�the�year,�of�$0.10.��

During�the�financial�year�ended�July�31,�2022,�no�stock�options�or�other�compensation�securities�were� exercised�by�any�NEO�or�director.�156,750�stock�options�held�by�Craig�Rollins�were�cancelled�upon�his� resignation�as�a�director�of�the�Company�on�April�25,�2022.�

8�

Stock�Option�Plans�and�Other�Incentive�Plans�

The�Current�Stock�Option�Plan�

The�Company�has�adopted�a�stock�option�plan,�which�was�amended�and�became�effective�on�January�19,� 2022�(the�" Current�Plan ").�The�amendments�to�the�Option�Plan�were�approved�by�the�TSXV�and�by�the� Shareholders�at�the�last�annual�general�meeting�held�on�December�8,�2021.�In�accordance�with�the� Current�Plan�and�the�TSXV's�policies,�the�Board�may�from�time�to�time,�in�its�discretion,�grant�to�directors,� officers,�employees�and�consultants�to�the�Company�(" Optionees "),�non�transferable�incentive�stock� options�to�purchase�Common�Shares.�The�Board�has�the�responsibility�to�administer�the�Current�Plan.�

Concurrent�with�closing�of�the�initial�public�offering�(" IPO "),�the�Company�granted�incentive�stock�options� to�its�directors�and�officers�to�purchase�up�to�1,045,000�Common�Shares�(156,750�of�which�were�cancelled� during�thee�year�upon�resignation�of�a�director),�which�are�exercisable�at�a�price�of�$0.10�per�share�for�a� period�of�ten�years�from�the�date�of�grant.�All�Common�Shares�acquired�on�the�exercise�of�options�granted� prior�to�completion�of�a�Qualifying�Transaction�must�be�deposited�in�escrow�until�the�TSXV�has�granted� final�acceptance�of�the�Qualifying�Transaction�and�issued�its�bulletin�following�closing�of�the�Qualifying� Transaction.�

The�following�is�a�summary�of�the�material�terms�of�the�Current�Plan�and�is�qualified�in�its�entirety�by�the� full�text�of�the�Current�Plan,�which�will�be�available�for�review�at�the�Meeting:�

(a) The�number�of�Common�Shares�reserved�for�issuance�on�the�exercise�of�options�granted�under� the�Current�Plan�must�not�exceed�10%�of�the�issued�and�outstanding�Common�Shares�on�the�date� of�grant�of�the�options.�
(b) Unless�sooner�terminated,�options�will�expire�on�a�date�to�be�determined�by�the�Board�and�will� not�exceed�10�years�from�the�date�the�option�is�granted.�
(c) For�as�long�as�the�Company�remains�a�CPC,�the�exercise�price�of�any�options�granted�under�the� Current�Plan�must�not�be�less�than�the�greater�of�(i)�the�share�price�of�the�IPO�which�was�$0.10;� and�(ii)�the�Discounted�Market�Price�(as�defined�in�TSXV�policy).�If�the�Company�is�no�longer�a�CPC� and�the�Common�Shares�are�listed�on�the�TSXV,�then�the�exercise�price�for�the�Options�granted� will�not�be�less�than�the�Discounted�Market�Price.�
(d) As�required�by�the�TSXV,�options�granted�to�any�person�performing�investor�relations�activities� (an�" Investor�Relations�Service�Provider ")�must�vest�in�stages�over�a�minimum�of�12�months�with� no�more�than�one�quarter�(¼)�of�the�options�vesting�in�any�3�month�period.�Otherwise,�the�Board� may�apply�vesting�provisions�to�any�option,�at�its�discretion.�
(e) The�number�of�Common�Shares�reserved�for�issuance�under�options�granted�to�Insiders�(as� defined�in�the�Current�Plan)�may�not�exceed�10%�of�the�issued�Common�Shares�at�the�time�of� granting�the�Options.�

9�

(f) The�total�number�of�options�granted�to�all�Insiders�(as�defined�in�TSXV�policy),�within�a�12�month� period,�may�not�exceed�10%�of�the�outstanding�Common�Shares�at�the�time�of�granting�the� Options,�unless�the�Company�has�obtained�disinterested�shareholder�approval.�
(g) The�total�number�of�options�granted�to�any�Optionee�in�a�12�month�period�must�not�exceed�5%� of�the�issued�Common�Shares�(i)�if�the�Company�has�not�completed�a�Qualifying�Transaction�and� is�a�CPC,�determined�as�at�the�closing�of�the�IPO;�or�(ii)�if�the�Company�has�completed�a�Qualifying� Transaction�and�is�no�longer�a�CPC,�determined�as�at�the�grant�date,�unless�the�Company�has� obtained�disinterested�shareholder�approval.�
(h) The�total�number�of�options�granted�to�any�one�consultant�in�a�12�month�period�must�not�exceed� 2%�of�the�issued�Common�Shares�(i)�if�the�Company�has�not�completed�a�Qualifying�Transaction� and�is�a�CPC,�determined�as�at�the�closing�of�the�IPO;�or�(ii)�if�the�Company�has�completed�a� Qualifying�Transaction�and�is�no�longer�a�CPC,�determined�as�at�the�date�of�grant�of�the�options.�
(i) As�long�as�the�Company�remains�a�CPC,�the�Company�may�not�grant�any�options�to�any�Investor� Relations�Services�Provider.�If�the�Company�completes�a�Qualifying�Transaction�and�is�no�longer� a�CPC,�the�total�number�of�options�granted�to�Investor�Relations�Service�Providers�in�a�12�month� period�must�not�exceed�2%�of�the�issued�Common�Shares�determined�as�at�the�date�of�grant�of� the�options,�without�the�prior�consent�of�TSXV.�
(j) If�the�engagement�of�the�Optionee�as�a�director,�executive�officer,�employee�or�consultant�of�the� Company�is�terminated�for�cause�(as�determined�by�common�law)�or�if�director,�executive�officer,� employee�or�consultant�resigns,�or�in�the�case�of�a�director,�refuses�to�stand�for�re�election,�any� option�granted�under�the�Current�Plan�to�such�Optionee�will�terminate�and�cease�to�be�exercisable� immediately�upon�the�Optionee�ceasing�to�be�a�director,�executive�officer,�employee�or� consultant.�
(k) If�the�engagement�of�the�Optionee�as�a�director,�executive�officer,�employee�or�consultant�of�the� Company�is�terminated�for�any�reason�other�than�cause,�resignation,�disability�or�death,�the� Optionee�may�exercise�any�option�granted�to�the�Optionee�to�the�extent�that�such�option�was� exercisable�and�had�vested�on�the�date�of�termination�until�the�date�that�is�the�earlier�of�(i)�the� expiry�date�of�the�option,�and�(ii)�the�date�that�is�six�months�after�the�effective�date�of�the� Optionee�ceasing�to�be�a�director,�executive�officer,�employee�or�consultant,�or�such�other�date� as�the�Board�may�determine,�subject�to�the�TSXV�policies.�
(l) If�the�Optionee�dies,�the�Optionee’s�lawful�personal�representatives,�heirs�or�executors�may� exercise�any�option�granted�to�the�Optionee�that�had�vested�on�the�date�of�death�until�the�earlier� of�(i)�the�expiry�date�of�the�option,�and�(ii)�one�year�after�the�date�of�death�of�such�Optionee.�
(m) In�the�event�of�the�disability�of�the�Optionee�(as�defined�in�the�Current�Plan),�or,�in�the�case�of�an� Optionee�that�is�a�company,�the�disability�of�the�person�who�provides�management�or�consulting� services�to�the�Company,�the�Optionee�may�exercise�any�option�granted�to�the�Optionee�that�had� vested�on�the�effective�date�of�the�disability�until�the�earlier�of�(i)�the�expiry�date�of�the�option,� and�(ii)�the�date�that�is�90�days�after�the�effective�date�of�disability.�

10�

The�Proposed�Amendments�to�the�Current�Stock�Option�Plan�

As�at�November�24,�2021,�the�Exchange�amended�its�rules�and�policies�in�respect�of�security�based� compensation�plans,�including�stock�option�plans�(the�“ Updated�TSXV�Policy�4.4 ”).�In�order�to�comply� with�terms�and�conditions�of�the�Updated�TSXV�Policy�4.4,�the�Current�Plan�was�amended�by�the�Board� and�has�received�conditional�acceptance�by�the�TSXV,�subject�to�approval�of�the�Shareholders,�as�further� described�in�this�Management�Information�Circular�(such�Current�Plan,�as�amended,�being�the�“ Amended� Plan ”).�

Similar�to�the�Current�Plan,�the�Amended�Plan�is�a�“10%�rolling”�stock�option�plan.�The�following�is�a� summary�of�the�material�amendments�to�the�Current�Plan�and�is�qualified�in�its�entirety�by�the�full�text�of� the�Amended�Plan,�which�will�be�available�for�review�at�the�Meeting.�A�blacklined�copy�of�the�Amended� Plan�showing�the�proposed�2022�Amendments�to�the�Current�Plan�is�attached�to�this�Management� Information�Circular�as�Schedule�“B”.�

(a) The�maximum�aggregate�number�of�Common�Shares�that�are�issuable�under�the�Current�Plan�and� under�any�other�security�based�compensation�plan�adopted�by�the�Company�(" Security�Based� Compensation ")�must�not�exceed�10%�of�the�issued�and�outstanding�Common�Shares�on�the�date� of�grant�of�the�options�or�the�grant�or�issuance�of�other�Security�Based�Compensation.�The� Company�currently�has�no�intention�of�adopting�plans�for�any�Other�Securities�Based� Compensations,�other�than�the�Amended�Plan.�
(b) The�maximum�aggregate�number�of�Common�Shares�that�are�issuable�under�this�Plan�and�under� any�and�all�of�the�Company's�other�Security�Based�Compensation�granted�or�issued�to�Insiders�(as� a�group)�must�not�exceed�10%�of�the�total�number�of�issued�and�outstanding�Common�Shares�at� any�point�in�time�(unless�the�Company�has�obtained�the�requisite�disinterested�shareholder� approval�in�accordance�with�TSXV�Policy�4.4).�
(c) The�maximum�aggregate�number�of�Common�Shares�that�are�issuable�under�the�Amended�Plan� and�under�any�other�Security�Based�Compensation�granted�or�issued�in�any�12�month�period�to� Insiders�(as�a�group)�must�not�exceed�10%�of�the�total�number�of�issued�and�outstanding�Common� Shares,�calculated�as�at�the�date�of�grant�of�an�option�or�the�date�any�other�Security�Based� Compensation�is�granted�or�issued�to�any�Insider�(unless�the�Company�has�obtained�the�requisite� disinterested�shareholder�approval�in�accordance�with�the�Updated�TSXV�Policy�4.4.).�
(d) The�maximum�aggregate�number�of�Common�Shares�that�are�issuable�under�the�Amended�Plan� and�under�any�other�Security�Based�Compensation�granted�or�issued�in�any�12�month�period�to� any�one�person�(and�where�permitted�under�TSXV�Policy�4.4,�any�companies�that�are�wholly� owned�by�such�person)�must�not�exceed�5%�of�the�total�number�of�issued�and�outstanding� Common�Shares,�calculated�as�at�the�date�any�Security�Based�Compensation�is�granted�or�issued� to�the�person�(unless�the�Issuer�has�obtained�the�requisite�disinterested�shareholder�approval�in� accordance�with�the�Updated�TSXV�Policy�4.4).�
(e) The�maximum�aggregate�number�of�Common�Shares�that�are�issuable�under�the�Amended�Plan� and�under�any�Security�Based�Compensation�granted�or�issued�in�any�12�month�period�to�any�one�

11�

consultant�must�not�exceed�2%�of�the�total�number�of�issued�and�outstanding�Common�Shares,� calculated�as�at�the�date�any�options�are�granted�or�any�other�Security�Based�Compensation�is� granted�or�issued�to�the�consultant�

(f) Investor�Relations�Service�Providers�may�not�receive�any�Security�Based�Compensation�other�than� options�granted�under�the�Current�Plan.�
(g) As�long�as�the�Company�remains�a�CPC,�the�Company�will�not�grant�any�options�or�other�Security� Based�Compensation�to�any�Investor�Relations�Service�Provider.�If�the�Company�completes�a� Qualifying�Transaction�and�is�no�longer�a�CPC,�the�maximum�aggregate�number�of�Common� Shares�that�are�issuable�pursuant�to�all�options�granted�in�any�12�month�period�to�all�Investor� Relations�Service�Providers�in�aggregate�must�not�exceed�2%�of�the�total�number�of�issued�and� outstanding�Common�Shares,�calculated�as�at�the�date�any�option�is�granted�to�any�such�Investor� Relations�Service�Provider.�
(h) Disinterested�shareholder�approval�in�accordance�with�Updated�TSXV�Policy�4.4�must�be�obtained� for�any�proposed�reduction�in�the�exercise�price�or�any�extension�of�the�term�of�outstanding� Options�granted�to�Optionees�that�are�Insiders�at�the�time�of�the�proposed�amendment.�
(i) If�an�Optionee�that�is�an�Employee,�a�Management�Company�Employee�or�a�Consultant�(as�those� terms�are�defined�in�the�Current�Plan)�ceases�to�be�a�person�eligible�to�receive�options�(an� " Eligible�Person ")�as�a�result�of�termination�for�cause�(as�determined�by�common�law),�any� outstanding�option�held�by�such�Optionee�on�the�date�of�termination�will�terminate�and�cease�to� be�exercisable�immediately.�
(j) If�an�Optionee�ceases�to�be�an�Eligible�Person�for�any�reason�other�than�termination�for�cause,� disability�or�death,�such�Optionee’s�outstanding�option�will�terminate�on�the�earlier�of:�(i)�180� days�thereafter�(30�days�if�the�Optionee�was�an�Investor�Relations�Service�Provider);�or�(ii)�the� expiry�date�of�the�option;�or�(iii)�within�a�reasonable�period�as�determined�by�the�Board�(the� “ Exercise�Period ”)�commencing�on�the�effective�date�the�Optionee�ceases�to�be�an�Eligible�Person� (but�only�to�the�extent�that�such�option�has�vested�on�or�before�the�date�the�Optionee�ceased�to� be�an�Eligible�Person),�and�all�rights�to�purchase�Common�Shares�under�such�option�will�expire�as� of�the�last�day�of�such�Exercise�Period,�provided�however�that�the�maximum�Exercise�Period�shall� be�six�months,�unless�the�Optionee�has�entered�into�a�valid�employment�or�consulting�agreement� that�provides�for�a�longer�Exercise�Period,�but�in�no�case�shall�the�Exercise�Period�be�greater�than� one�year�unless�prior�approval�of�the�TSXV�has�been�obtained.�

(k) If�a�bona�fide�offer�(an�" Offer ")�for�Common�Shares�is�made�to�the�Optionee�or�to�Shareholders� generally�or�to�a�class�of�Shareholders�which�includes�the�Optionee,�which�Offer,�if�accepted,�would�result� in�the�offeror�becoming�a�'control�person'�of�the�Company,�then�the�Company�must�immediately�notify� each�Optionee�of�full�particulars�of�the�Offer,�and�(subject�to�the�approval�of�the�TSXV)�all�outstanding� options�will�become�vested�and�the�Option�may�be�exercised�in�whole�or�in�part�by�the�Optionee�so�as�to� permit�the�Optionee�to�tender�the�Common�Shares�received�upon�such�exercise�(" Option�Shares "),� pursuant�to�the�Offer.�

12�

However,�if:�

(a) the�Offer�is�not�completed�within�the�time�specified�in�the�Offer;�or��
(b) all�of�the�Option�Shares�tendered�by�the�Optionee�pursuant�to�the�Offer�are�not�taken�up�or�paid� for�by�the�offeror,�

then�the�Option�Shares�received�upon�such�exercise,�or�in�the�case�of�clause�(b)�above,�the�Option�Shares� that�are�not�taken�up�and�paid�for,�may�be�returned�by�the�Optionee�to�the�Company�and�reinstated�as� authorized�but�unissued�Common�Shares�and�with�respect�to�such�returned�Option�Shares,�the�Option� will�be�reinstated�as�if�it�had�not�been�exercised�and�the�vesting�terms�will�be�reinstated.��If�any�Option� Shares�are�returned�to�the�Company,�the�Company�will�refund�the�purchase�price�to�the�Optionee�for� such�Option�Shares.�

As�described�under�the�heading� “Particulars�of�Matters�to�be�Acted�Upon�–�Approval�of�Amended�Stock� Option�Plan” ,�at�the�Meeting,�Shareholders�will�be�asked�to�consider,�and�if�thought�advisable,�pass�an� ordinary�resolution�to�approve�the�Amended�Plan.�If�the�resolution�is�not�approved�by�the�Shareholders,� the�amendments�to�the�Current�Plan�will�not�take�effect�and�the�Current�Plan�will�remain�in�effect�in� accordance�with�its�terms,�subject�to�all�applicable�requirements�under�the�Updated�TSXV�Policy�4.4.�

Employment,�Consulting�and�Management�Agreements�

Other�than�as�described�below,�the�Company�has�no�employment,�consulting�or�management�agreements� with�any�of�its�NEOs�or�directors�or�any�other�party.�Management�functions�are�primarily�performed�by�a� person�or�company�other�than�our�NEOs�and�directors.�

The�Company�entered�into�a�consulting�services�agreement�with�Red�Creek�Consulting�Inc.�(" Red�Creek ")� dated�April�18,�2020�for�the�provision�to�the�Company�of�accounting�advisory�services�and�any�other� financial�consulting�services�requested�by�the�Company's�CEO�or�CFO.�The�initial�term�of�the�agreement� was�six�months�but�has�been�renewed�on�a�month�to�month�basis.�The�Company�has�agreed�to�pay�Red� Creek�$1,500�per�month�plus�applicable�taxes�for�services�up�to�a�maximum�of�15�hours�per�month�and�at� the�rate�of�$125�per�hour�plus�applicable�taxes�for�services�in�excess�of�the�maximum�15�hours.�The� Company�has�agreed�to�reimburse�Red�Creek�for�all�expenses�incurred�by�Red�Creek�while�performing�its� services.�Either�party�may�terminate�the�agreement�on�thirty�days�notice�and�the�Company�may�terminate� immediately�for�cause�without�prior�notice�to�Red�Creek.�

Oversight�and�Description�of�Director�and�Named�Executive�Officer�Compensation�

Director�Compensation

The�Company�has�no�standard�arrangements�pursuant�to�which�directors�are�compensated�by�the� Company�for�their�services�in�their�capacity�as�directors�except�for�the�granting�from�time�to�time�of� incentive�stock�options�in�accordance�with�the�Option�Plan�and�the�TSXV's�policies.�The�granting�of� incentive�stock�options�provides�a�link�between�director�compensation�and�the�Company’s�share�price.�It� also�rewards�directors�for�achieving�results�that�improve�the�Company's�performance�and�thereby� increase�shareholder�value.�In�making�a�determination�as�to�whether�a�grant�of�long�term�incentive�stock� options�is�appropriate,�and�if�so,�the�number�of�options�that�should�be�granted,�the�Board�will�consider:� the�number�and�terms�of�outstanding�incentive�stock�options�held�by�each�director;�the�value�in�securities�

13�

of�the�Company�that�the�Board�intends�to�award�as�compensation;�the�potential�dilution�to�shareholders� and�the�cost�to�the�Company;�general�industry�standards;�and�the�limits�imposed�by�the�terms�of�the� Option�Plan�and�the�TSXV.�The�granting�of�incentive�stock�options�allows�the�Company�to�reward�the� directors’�efforts�to�increase�value�for�shareholders�without�requiring�the�Company�to�use�cash�from�its� treasury.�The�terms�and�conditions�of�the�Company’s�stock�option�grants,�including�vesting�provisions�and� exercise�prices,�are�governed�by�the�terms�of�the�Option�Plan,�which�are�described�under�" Executive� Compensation�–�Stock�Option�Plan "�above.�The�directors�may�be�reimbursed�for�actual�expenses� reasonably�incurred�in�connection�with�the�performance�of�their�duties�as�directors.�

Executive�Officer�Compensation�

Upon�completion�of�a�Qualifying�Transaction,�the�Board�as�a�whole�will�determine�executive� compensation�from�time�to�time.�We�do�not�have�a�formal�compensation�policy.�When�setting�the� compensation�of�our�executive�officers,�the�Board�will�consider:�i)�recruiting,�motivating�and�retaining� executives�critical�to�our�success�and�the�enhancement�of�shareholder�value;�ii)�providing�fair�and� competitive�compensation;�iii)�balancing�the�interests�of�management�and�our�shareholders;�and�iv)� rewarding�performance,�both�on�an�individual�basis�and�in�the�context�of�our�operations�in�general.�We� do�not�have�a�formal�compensation�program.�However,�the�Board�will�discuss�and�determine� management�compensation,�without�reference�to�formal�objectives,�criteria�or�analysis.�The�general� objectives�of�the�Board’s�compensation�strategy�are�to�(a)�compensate�management�in�a�manner�that� encourages�and�rewards�a�high�level�of�performance�and�outstanding�results�with�a�view�to�increasing� long�term�shareholder�value;�(b)�align�management’s�interests�with�the�long�term�interests�of�our� shareholders;�(c)�provide�a�compensation�package�that�enables�us�to�attract�and�retain�talent;�and�(d)� ensure�that�the�total�compensation�package�is�designed�in�a�manner�that�takes�into�account�the� constraints�that�we�are�under�by�virtue�of�the�fact�that�we�are�a�mineral�exploration�company�without�a� history�of�revenue.�

The�Board�will�generally�consider�three�elements�of�compensation�–�cash�salary,�cash�consulting�fees,�and� incentive�stock�options.�

Cash�salary�or�consulting�fees�is�used�to�provide�the�executive�officer�with�a�set�amount�of�money�during� the�year�with�the�expectation�that�he�or�she�will�perform�his�or�her�responsibilities�to�the�best�of�his�or� her�ability�and�in�our�best�interests.�The�Board�determines�what�the�executive�officer’s�salary�or�consulting� fee�compensation�will�be,�based�on�the�overall�performance�of�the�Company,�the�performance�of�the� executive�officer�and�general�trends�in�the�industry.�We�do�not�expect�to�use�any�formally�defined� objectives,�benchmarks�criteria�and�analysis�in�all�cases.�

The�granting�of�incentive�stock�options�provides�a�link�between�management�compensation�and�our�share� price.�It�also�rewards�management�for�achieving�results�that�improve�our�performance�and�thereby� increase�shareholder�value.�In�making�a�determination�as�to�whether�a�grant�of�long�term�incentive�stock� options�is�appropriate,�and�if�so,�the�number�of�options�that�should�be�granted,�the�Board�will�consider:� the�level�of�responsibility�of�the�executive�officer;�the�number�of�options,�if�any,�previously�granted�to� each�executive�officer;�the�exercise�price�of�any�outstanding�options;�the�potential�dilution�to� shareholders�and�the�cost�to�the�Company;�general�industry�standards;�and�the�limits�imposed�by�the� terms�of�the�Option�Plan�and�the�TSXV.�We�consider�the�granting�of�incentive�stock�options�to�be�a� particularly�important�element�of�compensation�as�it�allows�us�to�reward�the�executive�officer’s�efforts�to� increase�value�for�shareholders�without�requiring�us�to�use�cash�from�its�treasury.�The�terms�and�

14�

conditions�of�stock�option�grants,�including�vesting�provisions�and�exercise�prices,�are�governed�by�the� terms�of�the�Option�Plan,�which�are�described�under�" Executive�Compensation�–�Stock�Option�Plan "�above.�

The�Board�has�the�discretion�to�pay�cash�bonuses�to�our�NEOs,�however,�we�have�no�formal�bonus�plan� or�any�other�formal�arrangements�under�which�bonuses�may�be�earned�and�we�do�not�expect�to�pay�any� bonuses�to�our�NEOs�in�the�current�financial�year.�

Other�than�as�described�above�there�are�no�other�perquisites�provided�to�the�Named�Executive�Officers.��

Pension�Plan�Benefits�

No�pension,�retirement�or�deferred�compensation�plans,�including�defined�contribution�plans,�have�been� instituted�by�the�Company�and�none�are�proposed�at�this�time.

SECURITIES�AUTHORIZED�FOR�ISSUANCE�UNDER�EQUITY�COMPENSATION�PLANS�

The�only�equity�compensation�plan�which�we�have�in�place�is�the�Option�Plan,�which�is�administered�by� the�Board.�A�description�of�the�significant�terms�of�the�Option�Plan�is�found�under�the�heading�" Executive� Compensation�–�Stock�Option�Plans�and�Other�Incentive�Plans ".�

The�following�table�sets�forth�the�securities�of�the�Company�that�are�authorized�for�issuance�under�equity� compensation�plans�as�at�the�end�of�the�Company’s�most�recently�completed�financial�year�(July�31,�2022).�

PlanCategory	Numberofsecuritiesto beissueduponexercise ofoutstandingoptions, warrantsandrights	Weighted�average exercisepriceof outstandingoptions, warrantsandrights	Numberofsecurities remainingavailablefor futureissuanceunderequity compensationplans(1)
Equitycompensation plansapprovedby securityholders	888,250 CommonShares	$0.10perCommon Share	Nil(2)
Equitycompensation plansnotapprovedby securityholders	Nil	Nil	Nil
Total	888,250 CommonShares	$0.10perCommon Share	Nil

Notes:�

(1) As�of�the�Effective�Date,�the�Company�had�10,450,000�Common�Shares�issued�and�outstanding.�

(2) The�aggregate�number�of�Common�Shares�reserved�for�issuance�upon�the�exercise�of�options�pursuant�to�the�Option�Plan�is� such�number�of�Common�Shares�as�is�equal�to�10%�(equaling�1,045,000�as�of�the�Effective�Date)�of�the�number�of�issued� and�outstanding�Common�Shares.�

AUDIT�COMMITTEE�

Under�National�Instrument�52�110�� Audit�Committees �(" NI�52�110 "),�the�Company�is�required�to�include� in�this�Management�Information�Circular�the�disclosure�required�under�Form�52�110F2�with�respect�to� the�audit�committee�(the�" Audit�Committee ")�of�the�Board,�including�the�composition�of�the�Audit� Committee,�the�text�of�the�Audit�Committee�charter�(attached�hereto�as�Schedule�"A"),�and�the�fees�paid� to�the�external�auditor.�

15�

Composition�of�the�Audit�Committee�

The�following�are�the�current�members�of�the�Audit�Committee:�

Name	Independence(1)	FinancialLiteracy
Dr.KahMengLim	NotIndependent(2)	FinanciallyLiterate
PatriciaChow	Independent	FinanciallyLiterate

Notes:�

(1) The�Company�is�a�"venture�issuer"�for�the�purposes�of�NI�52�110.�As�such,�the�Company�is�exempt�from�the�requirement�to� have�the�Audit�Committee�comprised�entirely�of�independent�members.�

(2) Dr.�Lim�is�not�independent�under�NI�52�110�because�he�is�the�Chief�Executive�Officer�of�the�Company.�

NI�52�110�requires�that�an�audit�committee�be�comprised�of�at�least�three�directors�of�which�a�majority� of�the�members�must�be�independent�within�the�meaning�of�NI�52�110.�The�Company�is�currently� reviewing�qualified�candidates�to�be�appointed�as�an�independent�director�and�a�member�of�the�Audit� Committee�so�that�the�composition�of�the�Audit�Committee�complies�with�NI�52�110.�

Relevant�Education�and�Experience�

Dr.�Kah�Meng�Lim ��Dr.�Lim�is�an�accomplished�scientist�who�obtained�a�PhD�in�Biomedicine�at�the�National� University�of�Singapore�School�of�Medicine�in�2001.�For�more�than�20�years,�Dr.�Lim�has�pursued�his� scientific�interests�in�bioactive�molecules�that�govern�and�regulate�cellular�pathways�leading�to�cellular� homeostasis�and�well�being.�Dr.�Lim�has�continually�maintained�his�passion�for�finding�innovative�and� commercially�viable�solutions�for�molecular�medicine�for�cancers,�where�he�has�also�published�at�least� three�international�peer�reviewed�scientific�papers.�He�has�filed�for�at�least�five�patents�related�to� cannabinoids,�specifically�on�medical�cannabis�but�not�exclusive�to�just�neurological�usage.�

Commercially,�Dr.�Lim�has�been�involved�in�start�up�companies�and�is�currently�involved�with�several� companies�in�an�executive�position.�Dr.�Lim�has�also�held�the�following�positions:�Nanyang�Technological� University,�School�of�Chemical�and�Biomedical�Engineering,�Adjunct�Assistant�Professor�(2012�to�2013),� and�Tianjin�University,�Associate�Professor�(2014�to�2017).�

Patricia�Chow �–� Ms.�Chow�is�the�co�founder�and�co�owner�of�Armstrong�Industrial�Company�Ltd.� (" Armstrong" ),�which�provides�industrial�foam�and�rubber�related�technical�solutions.�Armstrong�was� listed�in�1995�on�the�then�Stock�Exchange�of�Singapore�(SES)�Since�then,�Armstrong�grew�by�expanding� into�new�markets�and�offering�extensive�solutions,�and�it�has�achieved�substantial�growth�in�revenue�and� earning�year�after�year,�In�2014�the�Armstrong�voluntarily�delisted�from�the�Singapore�Exchange�Limited� (SGX).�Ms.�Chow�has�been�a�board�member�since�1980�and�was�a�member�of�the�nomination�committee� for�the�years�Armstrong�was�listed�on�the�SES.�Ms.�Chow�has�a�diploma�in�business�administration�from� the�National�Productivity�Board�of�Singapore .

16�

Audit�Committee�Oversight�

At�no�time�since�the�commencement�of�the�Company’s�most�recently�completed�financial�year�was�a� recommendation�of�the�Audit�Committee�to�nominate�or�compensate�an�external�auditor�not�adopted�by� the�Board.�

Reliance�on�Certain�Exemptions�

The�Company�is�relying�on�the�exemption�provided�in�Section�6.1�of�NI�52�110�as�the�Company�is�a� "venture�issuer".�As�a�result,�the�Company�is�exempt�from�the�requirements�of�Part�3�(Composition�of� Audit�Committee)�and�Part�5�(Reporting�Obligations)�of�NI�52�110.�

Audit�Committee�Charter�

The�Audit�Committee�has�recently�adopted�specific�policies�and�procedures�for�the�engagement�of�non� audit�services�as�described�in�Schedule�"A"�attached�hereto.�

External�Auditor�Service�Fees�(By�Category)�

The�Audit�Committee�has�reviewed�the�nature�and�amount�of�the�non�audited�services�provided�to�us�by� Manning�Elliott�LLP,�Chartered�Professional�Accountants,�to�ensure�auditor�independence.�In�the� following�table,�"audit�fees"�are�fees�billed�by�the�Company's�external�auditor�for�services�provided�in� auditing�the�Company's�annual�financial�statements�for�the�subject�year.�"Audit�related�fees"�are�fees�not� included�in�audit�fees�that�are�billed�by�the�auditor�for�assurance�and�related�services�that�are�reasonably� related�to�the�performance�of�the�audit�or�review�of�the�Company’s�financial�statements.�"Tax�fees"�are� fees�billed�by�the�auditor�for�professional�services�rendered�for�tax�compliance,�tax�advice�and�tax� planning.�"All�other�fees"�are�fees�billed�by�the�auditor�for�products�and�services�not�included�in�the� foregoing�categories.�

The�fees�billed�by�the�Company's�auditor�during�the�fiscal�years�ended�July�31,�2022�and�2021�are�as� follows:�

FinancialYear Ending	AuditFees(1)	AuditRelatedFees	TaxFees	AllOtherFees
July31,2022	$11,000	Nil	Nil	Nil
July31,2021	$3,500	$1,500	Nil	Nil

AUDITOR�

The�auditor�of�the�Company�is�Manning�Elliot�LLP,�1100�–�1050�West�Pender�Street,�Vancouver,�British� Columbia�V6E�3S7.�Manning�Elliott�has�served�as�the�Company’s�auditor�since�May�12,�2020.�Please�see� " Matters�to�be�Considered�at�the�Meeting�–�Appointment�of�Auditor "�below�for�additional�information.��

CORPORATE�GOVERNANCE�

National�Instrument�58�101�–� Disclosure�of�Corporate�Governance�Practices �(" NI�58�101 ")�requires�issuers� to�disclose�the�corporate�governance�practices�that�they�have�adopted.�The�corporate�governance� practices�we�have�adopted�are�set�out�below.�

17�

Independence�of�Board�Members��

The�Board�is�currently�composed�of�three�directors,�namely�Dr.�Kah�Meng�Lim,�Joshua�Siow�and�Patricia� Chow.�Each�of�the�three�current�directors�are�expected�to�continue�as�directors�following�the�Meeting.�Of� the�three�individuals�to�be�nominated�by�management�for�election�as�directors,�Patricia�Chow�is� independent�based�upon�the�tests�for�independence�set�out�in�section�1.4�of�NI�52�110.�Dr.�Kah�Meng�Lim� is�not�considered�independent�because�he�is�our�Chief�Executive�Officer.�Joshua�Siow�is�not�be� independent�because�he�is�our�Chief�Financial�Officer�and�Corporate�Secretary.��

Management�Supervision�by�Board�

The�sole�business�activity�of�the�Company�to�date�has�been�the�identification�of�a�potential�Qualifying� Transaction.�The�Board�has�determined�that�the�current�constitution�of�the�Board�is�appropriate�for�a� company�that�has�no�business�or�operations.�

Independent�supervision�of�management�is�accomplished�by�choosing�management�who�demonstrate�a� high�level�of�integrity�and�ability�and�by�having�strong�independent�Board�members.�Our�independent� directors,�however,�are�able�to�meet�at�any�time�without�any�members�of�management,�including�the� non�independent�directors�being�present.�In�addition,�the�Audit�Committee�is�required�to�be�comprised� of�a�majority�of�independent�directors.��

Participation�of�Directors�in�Other�Reporting�Issuers�

No�director�of�the�Company�is�a�director�of�other�issuers�that�are�reporting�issuers�(or�the�equivalent)�in� Canada�or�a�foreign�jurisdiction.�

Orientation�and�Continuing�Education�

There�is�no�formal�orientation�for�new�members�of�the�Board,�and�this�is�considered�to�be�appropriate,� given�our�size�and�lack�of�operations.�While�we�do�not�have�formal�orientation�and�training�programs,� new�Board�members�are�provided�with:�

(a)� access�to�our�recent,�publicly�filed�documents;�and�
(b)� access�to�management,�the�auditor�and�our�consultants.�

The�skills�and�knowledge�of�the�Board�as�a�whole�is�such�that�we�do�not�believe�that�any�formal�continuing� education�process�is�currently�required.�The�Board�is�comprised�of�individuals�with�varying�backgrounds,� who�have,�both�collectively�and�individually,�extensive�experience�in�running�and�managing�public� companies.�

Board�members�are�encouraged�to�communicate�with�management,�our�auditor�and�our�consultants�and� to�keep�themselves�current�with�industry�trends�and�developments�and�changes�in�legislation.�Board� members�have�full�access�to�our�records.�

Ethical�Business�Conduct�

The�Board�expects�management�to�operate�our�business�in�a�manner�that�enhances�shareholder�value� and�is�consistent�with�the�highest�level�of�integrity.�The�Board�views�good�corporate�governance�as�an� integral�component�to�our�success�and�to�meet�responsibilities�to�Shareholders.�Management�is�expected� to�carry�out�our�business�plan�and�to�meet�performance�goals�and�objectives.�To�date,�the�Board�has�not�

18�

adopted�a�formal�written�Code�of�Business�Conduct�and�Ethics.�However,�the�current�lack�of�operations� and�the�small�number�of�officers�allow�the�independent�members�of�the�Board�to�monitor�on�an�ongoing� basis�management's�activities�and�to�ensure�that�the�highest�standard�of�ethical�conduct�is�maintained.� As�we�grow�in�size�and�scope,�the�Board�anticipates�that�it�will�adopt�a�formal�Code�of�Business�Conduct� and�Ethics.�

Nomination�of�Directors�

The�Board�determines�new�nominees�to�the�Board,�although�a�formal�process�has�not�been�adopted.�The� Board�assesses�potential�Board�candidates�based�on�perceived�needs�on�the�Board,�required�skills� expertise,�independence�and�other�factors.�The�nominees�are�generally�the�result�of�recruitment�efforts� by�the�Board�members,�including�both�formal�and�informal�discussions�among�Board�members�and�our� Chief�Executive�Officer.��

Compensation�of�Directors�and�the�CEO�

Currently,�none�of�our�directors�and�executive�officers�have�received�any�compensation.�If�a�Qualifying� Transaction�is�completed,�the�independent�directors�have�the�responsibility�for�determining� compensation�for�our�directors�and�senior�management.�When�setting�compensation,�our�independent� directors�review�compensation�paid�to�directors�and�CEOs�of�companies�of�similar�size�and�stage�of� development�in�the�mineral�exploration�and�mining�industry.�They�determine�an�appropriate� compensation�that�reflects�the�need�to�provide�incentive�and�compensation�for�the�time�and�effort� expended�by�the�directors�and�senior�management�while�also�taking�into�account�our�financial�and�other� resources.�

Board�Committees�

The�Board�has�determined�that�additional�committees�are�not�necessary�at�this�stage�of�our�development.�

Assessments�

The�Board�monitors�but�does�not�formally�assess�the�performance�of�individual�Board�members�or� committee�members�or�their�contributions.�The�Board�does�not,�at�present,�have�a�formal�process�in�place� for�assessing�the�effectiveness�of�the�Board�as�a�whole,�its�committees�or�individual�directors,�but�will� consider�establishing�one�in�the�future�if�circumstances�warrant.�Based�on�our�size,�our�stage�of� development�and�the�limited�number�of�Board�members,�the�Board�considers�a�formal�assessment� process�to�be�inappropriate�at�this�time.�The�Board�plans�to�continue�evaluating�its�own�effectiveness�on� an�ad�hoc�basis.�The�current�size�of�the�Board�is�such�that�the�entire�Board�takes�responsibility�for�selecting� new�directors�and�assessing�our�current�directors.�One�or�more�members�of�the�Board�review�a�proposed� directors’�credentials�before�a�Board�Meeting�at�which�the�proposed�director�may�be�appointed�or� nominated�for�election�by�the�Shareholders.�

19�

MATTERS�TO�BE�CONSIDERED�AT�THE�MEETING�

To�the�knowledge�of�the�Board,�the�only�matters�to�be�brought�before�the�Meeting�for�approval�by�the� shareholders�are�set�forth�in�the�accompanying�Notice�of�Meeting.�These�matters�are�described�in�more� detail�under�the�headings�below.�

1. Financial�Statements�

The�audited�financial�statements�of�the�Company�and�the�auditor’s�report�thereon�to�be�received�by�the� Shareholders�at�the�Meeting�are�for�the�financial�year�ended�July�31,�2022.�The�annual�financial� statements�were�audited�by�Manning�Elliot�LLP,�of�Vancouver,�British�Columbia.�

2. Appointment�of�Auditor�

At�the�Meeting,�Shareholders�will�be�asked�to�pass�an�ordinary�resolution�to�appoint�Manning�Elliot�LLP,� as�the�auditor�of�the�Company,�and�to�authorize�the�directors�of�the�Company�to�fix�the�remuneration�to� be�to�be�paid�to�the�auditor.�An�ordinary�resolution�needs�to�be�passed�by�a�simple�majority�of�the�votes� cast�by�the�Shareholders�present�in�person�or�represented�by�proxy�and�entitled�to�vote�at�the�Meeting.�

The�Shareholders�will�be�asked�at�the�Meeting�to�consider,�and�if�thought�appropriate,�to�pass�an�ordinary� resolution,�the�text�of�which�is�as�follows:�

" BE�IT�RESOLVED�that:

Manning�Elliot�LLP,�be�appointed�as�auditor�of�the�Company,�at�a�remuneration�to�be�fixed�by�the� Board,�provided�that�the�Board�in�their�discretion�may�seek�proposals�from�other�qualified� accounting�firms�for�the�position�of�auditor�of�the�Company�for�the�ensuing�year,�and,�should�one� or�more�favourable�proposals�be�received,�the�Board�may�replace�Manning�Elliot�LLP�as�the� Company’s�auditor�at�any�time�during�the�ensuing�year�with�a�qualified�accounting�firm�at�a� remuneration�to�be�fixed�by�the�Board,�subject�to�compliance�by�the�Company�with�the� requirements�of�the�BC�Securities�Commission."

The�persons�designated�as�proxyholders�in�the�accompanying�Instrument�of�Proxy�(absent�contrary� directions)�intend�to�vote�FOR�the�appointment�of�MNP�as�the�Company’s�auditor�and�the�authorization� of�the�directors�of�the�Company�to�fix�the�remuneration�to�be�paid�to�the�auditor.�

3. Number�of�Directors�

While�the�Company�is�a�public�company,�the�Articles�of�the�Company�provide�for�the�number�of�directors� be�set�at�the�greater�of�three�(3)�and�the�most�recently�set�by�ordinary�resolution�at�every�annual�general� meeting.�Between�annual�general�meetings�the�directors�may�appoint�one�or�more�additional�directors,� but�the�number�of�additional�directors�appointed�must�not�at�any�time�exceed�one�third�(1/3)�of�the� number�of�the�current�directors�who�were�elected�or�appointed�by�ordinary�shareholder�resolution.�

20�

" BE�IT�RESOLVED�that:

the�number�of�directors�of�the�Company�for�the�ensuring�year�be�set�at�three�(3)".��

The�persons�designated�as�proxyholders�in�the�accompanying�Instrument�of�Proxy�(absent�contrary� directions)�intend�to�vote�FOR�the�approval�of�setting�the�number�of�directors�of�the�Company�at�three� (3).�

4. Election�of�Directors�

At�the�Meeting,�Shareholders�are�required�to�elect�the�directors�of�the�Company�to�hold�office�until�the� close�of�the�next�annual�meeting�of�Shareholders�or�until�their�successors�are�elected�or�appointed.��

" BE�IT�HEREBY�RESOLVED�that:

�each�of�Dr.�Kah�Meng�Lim,�Joshua�Siow,�and�Patricia�Chow�be�appointed�as�directors�of�the� Company�to�hold�office�until�the�earlier�of�the�close�of�the�next�annual�meeting�of�shareholders�of� the�Company�or�until�their�successors�are�elected�or�appointed."��

The�persons�designated�as�proxyholders�in�the�accompanying�Instrument�of�Proxy�(absent�contrary� directions)�intend�to�vote�FOR�the�election�of�the�directors�as�set�forth�above.�The�Company�does�not� contemplate�that�any�of�such�nominees�will�be�unable�to�serve�as�directors;�however,�if�for�any�reason� any�of�the�proposed�nominees�do�not�stand�for�election�or�are�unable�to�serve�as�such,�proxies�held�by� the�persons�designated�as�proxyholders�in�the�accompanying�Instrument�of�Proxy�will�be�voted�FOR� another�nominee�in�their�discretion�unless�the�Shareholder�has�specified�in�its,�his�or�her�form�of�proxy� that�its,�his�or�her�Common�Shares�are�to�be�withheld�from�voting�in�the�election�of�directors.�

The�following�sets�forth�the�name�of�each�of�the�persons�proposed�to�be�nominated�for�election�as�a� director�of�the�Company,�all�positions�and�offices�in�the�Company�presently�held�by�such�nominees,�the� nominees’�municipality�and�country�of�residence,�principal�occupation�at�the�present�time�and�during�the� preceding�five�years,�the�period�during�which�the�respective�nominees�have�served�as�directors,�and�the� number�and�percentage�of�Common�Shares�beneficially�owned�by�the�nominees,�directly�or�indirectly,�or� over�which�control�or�direction�is�exercised,�as�of�the�Effective�Date.�

NameandPlaceof Residence	Positionswiththe CompanyandDateFirst AppointedtotheBoard	PrincipalOccupationforPastFive(5) Years	Numberand Percentageof CommonShares BeneficiallyOwnedor Controlled(1)
Dr.KahMengLim(2) Republicof Singapore	CEOandDirectorsince January2,2019	AssociateProfessoratTianjinUniversity from2014to2017;CEOofZenzicLabs since2019;CEOofNGFBioEnterprise since2017.BothZenzicLabsandNGF BioEnterpriseareinthebusinessof researchanddevelopmentofstem�cell applicationsincreatingnewtherapeutic opportunities.	400,000 3.83%
JoshuaSiow Republicof Singapore	CFO,Corporate SecretaryandDirector sinceJanuary2,2019	CharteredAccountant;Managing DirectorofVirtusAssurePteLtd.,which providesgovernance,riskandcontrol services,since2005.	200,000 1.91%

21�

NameandPlaceof Residence	Positionswiththe CompanyandDateFirst AppointedtotheBoard	PrincipalOccupationforPastFive(5) Years	Numberand Percentageof CommonShares BeneficiallyOwnedor Controlled(1)
PatriciaChow(2) Republicof Singapore	DirectorsinceJanuary2, 2019	Co�founderandco�ownerofArmstrong IndustrialCorporationLtd.,which providesindustrialfoamandrubber relatedtechnicalsolutions,since1980.	1,700,000 16.27%

Notes:�

(1) Based�on�10,450,000�Common�Shares�issued�and�outstanding�as�at�the�Effective�Date.�

(2) Member�of�the�Audit�Committee.�

Please�see�" Audit�Committee�–�Relevant�Experience�and�Education "�above�for�additional�biographical� information�regarding�Dr.�Lim,�Mr.�Rollins�and�Ms.�Chow.�

Cease�Trade�Orders,�Bankruptcies�and�Penalties�

Other�than�as�set�forth�below,�to�the�knowledge�of�the�Company,�no�proposed�director�is�as�at�the� Effective�Date,�or�has�been,�within�the�10�years�prior�to�the�Effective�Date,�a�director,�chief�executive� officer�or�chief�financial�officer�of�any�company�(including�the�Company)�that:�

(a)� was�the�subject�of�a�cease�trade�or�similar�order,�or�an�order�that�denied�the�other�company� access�to�any�exemptions�under�applicable�securities�legislation�for�a�period�of�more�than�30� consecutive�days�that�was�issued�while�the�proposed�director�was�acting�as�director,�chief� executive�officer�or�chief�financial�officer;�or�
(b)� was�the�subject�of�a�cease�trade�or�similar�order,�or�an�order�that�denied�the�other�company� access�to�any�exemptions�under�applicable�securities�legislation�for�a�period�of�more�than�30� consecutive�days�that�was�issued�after�the�proposed�director�ceased�to�be�a�director,�chief� executive�officer�or�chief�financial�officer�and�which�resulted�from�an�event�that�occurred�while� that�person�was�acting�in�the�capacity�as�director,�chief�executive�officer�or�chief�financial�officer.�

To�the�knowledge�of�the�Company,�no�proposed�director�is,�or�has�been�within�the�past�10�years�before� the�Effective�Date,�a�director�or�executive�officer�of�any�company�(including�the�Company)�that,�while�that� person�was�acting�in�that�capacity,�or�within�a�year�of�that�person�ceasing�to�act�in�that�capacity,�became� bankrupt,�made�a�proposal�under�any�legislation�relating�to�bankruptcy�or�insolvency�or�was�subject�to�or� instituted�any�proceedings,�arrangement�or�compromise�with�creditors�or�had�a�receiver,�receiver� manager�or�trustee�appointed�to�hold�the�assets�of�that�person.�

To�the�knowledge�of�the�Company,�no�proposed�director�has,�within�the�past�10�years�before�the�Effective� Date,�become�bankrupt,�made�a�proposal�under�any�legislation�relating�to�bankruptcy�or�insolvency,�or� become�subject�to�or�instituted�any�proceedings,�arrangement�or�compromise�with�creditors�or�had�a� receiver,�receiver�manager�or�trustee�appointed�to�hold�the�assets�of�that�person.�

To�the�knowledge�of�the�Company,�no�proposed�director�has�been�subject�to�any�penalties�or�sanctions� imposed�by�a�court�relating�to�securities�legislation�or�by�any�securities�regulatory�authority�or�has�entered� into�a�settlement�agreement�with�a�securities�regulatory�authority�or�has�been�subject�to�any�other�

22�

penalties�or�sanctions�imposed�by�a�court�or�regulatory�body�that�would�be�likely�to�be�considered� important�to�a�reasonable�securityholder�in�deciding�whether�to�vote�for�the�proposed�director.�

5. Approval�of�Amended�Stock�Option�Plan��

As�a�result�of�the�implementation�of�the�Updated�TSXV�Policy�4.4,�the�Amended�Plan�was�adopted�by�the� Board�effective�as�of�October�25,�2022,�subject�to�acceptance�by�the�Exchange�and�shareholder�approval.� On�October�25,�2022,�the�TSXV�granted�conditionally�acceptance�of�the�Amended�Plan.�

The�Amended�Plan�is�a�“rolling”�incentive�stock�option�plan.�For�more�information�on�the�Amended�Plan,� see�“ Executive�Compensation�–�Stock�Option�Plans�and�Other�Incentive�Plans ”�above.�A�blacklined�copy�of� the�Amended�Plan�showing�the�proposed�amendments�to�the�Current�Plan�is�attached�to�this� Management�Information�Circular�as�Schedule�“B”.�Under�the�Updated�TSXV�Policy�4.4,�all�rolling�stock� option�plans�such�as�the�Amended�Plan�must�be�approved�by�shareholders�on�implementation�and�on�an� annual�basis.��

At�the�Meeting,�the�Shareholders�will�be�asked�to�consider�and�if�thought�appropriate,�to�pass,�with�or� without�variation,�an�ordinary�resolution�(being�a�simple�majority�of�votes�cast)�to�authorize,�approve,� ratify�and�confirm�the�Amended�Plan�(the�" Stock�Option�Plan�Resolution ").�If�Shareholders�approve�the� Stock�Option�Plan�Resolution,�the�Amended�Plan�will�take�effect�at�the�close�of�business�of�the�Meeting.� If�the�Stock�Option�Plan�Resolution�is�not�approved�by�the�Shareholders,�the�amendments�to�the�Current� Plan�will�not�take�effect�and�the�Current�Plan�will�remain�in�effect�in�accordance�with�its�terms,�subject�to� all�applicable�requirements�under�the�Updated�TSXV�Policy�4.4.�

At�the�Meeting,�the�Shareholders�will�be�asked�to�pass�the�Stock�Option�Plan�Resolution,�in�substantially� the�following�form:

" BE�IT�RESOLVED,�as�an�ordinary�resolution,�that:

The�Company’s�stock�option�plan�dated�January�19,�2022�(the�" Stock�Option�Plan ")�,�as� amended�from�time�to�time,�including�each�of�the�amendments�described�in�the� management�information�circular�of�the�Company�dated�October�26,�2022�(the� " Circular ")�and�such�Stock�Option�Plan,�as�amended,�(the�“ Amended�Plan ”),�substantially� in�the�form�attached�to�the�Circular,�are�authorized,�approved,�ratified�and�confirmed;�
The�board�of�directors�of�the�Company�be�authorized�to�make�any�changes�to�the� Amended�Plan�as�may�be�required�or�permitted�by�any�regulatory�authority�or�stock� exchange�on�which�the�securities�of�the�Company�are�listed�for�trading,�without�further� approval�of�the�shareholders�of�the�Company;�and�
Any�one�director�or�officer�of�the�Company�is�authorized�and�directed�to�do�all�such�acts� and�things�and�to�sign�and�deliver�all�such�documents,�instruments�and�assurances�as�such� director�or�officer�may�deem�to�be�necessary�or�desirable�to�give�effect�to�this�resolution.”�

Unless�the�Shareholder�has�specified�in�the�enclosed�form�of�Proxy�or�other�form�of�proxy�that�the� Common�Shares�represented�by�such�proxy�are�to�be�voted�against�the�Stock�Option�Plan�Resolution�to� approve�the�Amended�Plan,�the�persons�named�in�the�enclosed�Proxy�intend�to�vote�FOR�the�Stock� Option�Plan�Resolution.�

23�

The�Amended�Plan�is�attached�hereto�as�Schedule�"B"�and�will�be�made�available�to�Shareholders�at� the�Meeting�and�prior�to�the�Meeting�by�contacting�the�Company�directly�to�obtain�a�copy.�

ADDITIONAL�INFORMATION�

Financial�information�pertaining�to�the�Company�is�provided�in�the�Company’s�audited�financial� statements�and�management’s�discussion�and�analysis�(" MD&A ")�for�the�financial�year�ended�July�31,� 2022,�and�other�information�relating�to�the�Company�is�available�under�the�Company's�profile�on�the� SEDAR�website�at�www.sedar.com.�

DIRECTOR�APPROVAL�

The�contents�of�this�Management�Information�Circular�and�the�sending�thereof�to�the�Shareholders�of�the� Company�have�been�approved�by�the�Board.�

October�26,�2022�

By�Order�of�the�Board�of�Directors�

(signed)�" Dr.�Kah�Meng�Lim "

Dr.�Kah�Meng�Lim Chief�Executive�Officer�and�Director�

24�

Schedule�"A"�

AUDIT�COMMITTEE�CHARTER�

AUDIT COMMITTEE CHARTER

AS AT MAY 12, 2020

COMPASS VENTURE INC.

(the "Company")

AUDIT COMMITTEE CHARTER

(As at May 12, 2020)

MANDATE

The primary function of the Audit Committee (the " Committee ") is to assist the Board of Directors (the " Board ") in fulfilling its financial oversight responsibilities by reviewing the financial reports and other financial information provided by the Company to regulatory authorities and shareholders, the Company’s systems of internal controls regarding finance and accounting, the Company’s auditing, accounting and financial reporting processes, and the Company’s process for monitoring compliance with laws and regulations. Consistent with this function, the Committee will encourage continuous improvement of, and should foster adherence to, the Company’s policies, procedures and practices at all levels. The Committee’s primary duties and responsibilities are to:

Serve as an independent and objective party to monitor the Company’s financial reporting and internal control system and review the Company’s financial statements in accordance with International Financial Reporting Standards (" IFRS ");
Have direct authority to discharge the Board’s responsibilities in relation to the selection, appointment, oversight, direction, evaluation, remuneration and, where appropriate, the replacement or removal of the external auditor; and,
Provide an open avenue of communication among the Company’s auditor, financial and senior management and the Board.

In carrying out its duties under this Charter, the Committee will have the authority to: (i) if necessary, institute special investigations, (ii) engage independent counsel, accountants or other advisors, as it considers necessary, to carry out its duties, (iii) set and pay the compensation for any advisors employed by Committee, and (iv) to communicate directly with the internal and external auditor of the Company.

COMPOSITION

The Committee will be comprised of a minimum of three directors as determined by the Board, the majority of whom will be free from any relationship that, in the opinion of the Board, would interfere with the exercise of his or her independent judgment as a member of the Committee. A majority of the members of the Committee must not be executive officers, employees or control persons of the Company or of an affiliate of the Company.

At least one member of the Committee must have accounting or related financial management expertise. All members of the Committee that are not financially literate will work towards becoming financially literate to obtain a working familiarity with basic finance and accounting practices. For the purposes of the Company's Charter, the definition of "financially literate" is the ability to read and understand a set of financial statements that present a breadth and level of complexity of accounting issues that are generally comparable to the breadth and complexity of the issues that can presumably be expected to be raised by the Company's financial statements.

A�1�

The members of the Committee will be elected by the Board at its first meeting following the annual shareholders’ meeting. Unless a Chair is elected by the full Board, the members of the Committee may designate a Chair by a majority vote of the full Committee membership. Members of the Committee may be removed by the Board, at any time, in its discretion.

MEETINGS

The Committee will meet at least four times annually, or more frequently as circumstances dictate. As part of its job to foster open communication, the Committee will meet at least annually with the Company's Chief Financial Officer (the " CFO ") and the external auditor in separate sessions. The quorum for a meeting of the Committee will be a majority of the members who are not executive officers, employees or control persons of the Company or of an affiliate of the Company. The Committee may invite such other persons (e.g. the Chief Executive Officer or CFO) to its meetings, as it deems appropriate. The proceedings of all meetings will be minuted. With the exception of the foregoing quorum requirement, the Committee may determine its own procedures.

RESPONSIBILITIES AND DUTIES

To fulfill its responsibilities and duties, the Committee will:

1. Documents/Reports Review

a. Review this Charter annually and recommend any proposed changes to the Board.
b. Review the Company's annual audited and unaudited interim financial statements, related management's discussion and analysis, and any annual and interim profit or loss press prior to public dissemination and filing with any regulatory authority or governmental body, including any certification, report, opinion, or review rendered by the external auditor, and determine whether they are complete and consistent with the information known to Committee;
c. Evaluate the fairness of the financial statements and disclosures, and obtain explanations from management on whether:
(a) actual financial results for the annual or interim period varied significantly from budgeted or projected results;
(b) IFRS has been consistently applied;
(c) there are any actual or proposed changes in accounting or financial reporting practices; and
(d) there are any significant or unusual events or transactions which require disclosure and, if so, consider the adequacy of that disclosure.

2. External Auditor

a. Subject to confirmation by the external auditor of its compliance with Canadian and other regulatory requirements applicable to the external auditor, recommend to the Board the appointment of the external auditor for the purpose of preparing or issuing any audit report or performing other audit, review or attest services for the Company.

A�2�

b. Review annually, the performance of the external auditor who will report directly to the Audit Committee and be ultimately accountable to the Board and the Committee as representatives of the shareholders of the Company.
c. Obtain annually, a formal written statement of the external auditor setting forth all relationships between the external auditor and the Company, consistent with Independence Standards Board Standard 1.
d. Review and discuss with the external auditor any disclosed relationships or services that may impact the objectivity and independence of the external auditor.
e. Take, or recommend that the full Board take, appropriate action to oversee the independence of the external auditor.
f. Recommend to the Board, where applicable, the replacement of the external auditor nominated annually for shareholder approval.
g. At each meeting, consult with the external auditor, without the presence of management, about the quality and appropriateness of the Company’s accounting principles and internal controls, and the completeness and accuracy of the Company's financial statements in accordance with IFRS.
h. Review and approve the Company's hiring policies regarding partners, employees and former partners and employees of the present and former external auditor of the Company.
i. Receive and review annually the external auditor's report on management's evaluation of internal controls and procedures for financial reporting;
j. Review with management and the external auditor the audit plan for the year-end financial statements and intended template for such statements.
k. Review and pre-approve all audit and audit-related services and the fees and other compensation related thereto, and any non-audit services, provided by the Company’s external auditor. The preapproval requirement is waived with respect to the provision of non-audit services if:
i. the aggregate amount of all such non-audit services provided to the Company constitutes not more than five percent of the total amount of revenues paid by the Company to its external auditor during the fiscal year in which the non-audit services are provided;
ii. such services were not recognized by the Company at the time of the engagement to be nonaudit services; and
iii. such services are promptly brought to the attention of the Committee by the Company and approved prior to the completion of the audit by the Committee or by one or more members of the Committee who are members of the Board to whom authority to grant such approvals has been delegated by the Committee.

Provided the pre-approval of the non-audit services is presented to the Committee's first scheduled meeting following such approval, such authority may be delegated by the Committee to one or more independent members of the Committee

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3. Financial Reporting Processes

a. In consultation with the external auditor, review with management the quality, integrity and adequacy of the Company's financial reporting process, both internal and external.
b. Consider the external auditor’s judgments about the quality and appropriateness of the Company’s accounting principles as applied in its financial reporting.
c. Consider and approve, if appropriate, changes to the Company’s auditing and accounting principles and practices as suggested by the external auditor and management.
d. Review significant judgments made by management in the preparation of the financial statements and the view of the external auditor as to appropriateness of such judgments.
e. Following completion of the annual audit, review separately with management and the external auditor any significant difficulties encountered during the course of the audit, including any restrictions on the scope of work or access to required information.
f. Review any significant disagreement among management and the external auditor in connection with the preparation of the financial statements.
g. Review with the external auditor and management the extent to which changes and improvements in financial or accounting practices have been implemented.
h. Review certification process.
i. Establish a procedure for the confidential, anonymous submission by employees of the Company of concerns regarding questionable accounting or auditing matters.
j. Review any complaints or concerns regarding any questionable accounting, internal accounting controls. auditing matters, or financial reporting and disclosure.

4. Risk Management

a. Review, at least annually, and more frequently if necessary, the Company’s policies for risk assessment and risk management (the identification, monitoring, and mitigation of risks).
b. Inquire of management and the independent auditor about significant business, political, financial and control risks or exposure to such risk.
c. Request the external auditor’s opinion of management’s assessment of significant risks facing the Company and how effectively they are being managed or controlled.
d. Assess the effectiveness of the over-all process for identifying principal business risks and report thereon to the Board.

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5. Other

a. Review with management and the external auditor significant related party transactions and potential conflicts of interest.
b. Perform such other functions and exercise such other powers as are prescribed from time to time for the audit committee of a reporting company in Parts 2 and 4 of National Instrument 52-110 of the Canadian Securities Administrators, the Business Corporations Act (British Columbia) and the articles of the Company.

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Schedule�"B"�

BLACKLINED�AMENDED�AND�RESTATED�STOCK�OPTION�PLAN�

OF�COMPASS�VENTURE�INC.�

B�1�

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COMPASS VENTURE INC.

(the " Company ")

AMENDED AND RESTATED ROLLING STOCK OPTION PLAN AS OF JANUARY 19O CTOBER 25, 2022

1. INTERPRETATION

1.1 Definitions .

For the purposes of this Plan, the following terms have the respective meanings set forth below:

(a) " Affiliate " has the meaning given to that term in the TSXV Policies;
(b) " Associate " has the meaning given to that term in the TSXV Policies;
(c) " Board " means the board of directors of the Company or any committee of the board of directors duly empowered or authorized to administer this Plan;
(d) " Change of Control " means the acquisition by any Person or by any Person and all Joint Actors, whether directly or indirectly, of voting securities (as defined in the Securities Act) of the Company, which, when added to all other voting securities of the Company at the time held by such Person or by such Person and a Joint Actor, totals for the first time not less than fifty percent (50%) of the outstanding voting securities of the Company or the votes attached to those securities are sufficient, if exercised, to elect a majority of the Board;
~~(d) "~~ ~~Change of Control " means the occurrence of any one of the following events:~~
~~(i) a report is filed with any securities commission or securities regulatory authority in Canada, disclosing that any offeror (as the term "~~ ~~offeror " is defined in Section 1.1 of Multilateral Instrument 62-104 -~~ ~~Take-Over Bids and Issuer Bids ) has acquired beneficial ownership of, or the power to exercise control or direction over, or securities convertible into, any shares of capital stock of any class of the Company carrying voting rights under all circumstances (the "~~ ~~Voting Shares "), that, together with the offeror~~ ’ ~~s securities would constitute Voting Shares of the Company representing more than 50% of the total voting power attached to all Voting Shares of the Company then outstanding,~~
~~(ii) any amalgamation, consolidation, statutory arrangement, merger, business combination or other similar transaction involving the Company is consummated: (1) in which the Company is not the continuing or surviving corporation, or (2) pursuant to which any Voting Shares of the Company would be reclassified, changed or converted into or exchanged for cash, securities or other property, other than (in each case) an amalgamation, consolidation, statutory arrangement, merger, business combination or other similar transaction involving the Company in which the holders of the Voting Shares of the Company immediately prior to such amalgamation, consolidation, statutory arrangement, merger, business combination or other similar transaction have, directly or indirectly, more than 50% of the Voting Shares of the continuing or surviving corporation immediately after such transaction,~~

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~~(iii) any person or group of persons succeeds in having a sufficient number of its nominees elected as directors of the Company such that such nominees, will constitute a majority of the directors of the Company, or~~
~~(iv) a sale, transfer or disposition by the Company of all or substantially all of the assets of the Company is consummated,~~

~~provided that an event will not constitute a Change of Control if its sole purpose is to change the jurisdiction of the Company~~ ’ ~~s organization or to create a holding company, partnership or trust that will be owned in substantially the same proportions by the persons who held the Company~~ ’ ~~s securities immediately before such event;~~

(e) " Common Shares " means the common shares in the capital of the Company as constituted on the Grant Date, provided that, in the event of any adjustment pursuant to Section 4.9, "Common Shares" will thereafter mean the shares or other securities or other property resulting from the events giving rise to the adjustment;
(f) " Company " means Compass Venture Inc. and includes, unless the context otherwise requires, all of its subsidiaries or Affiliates and successors according to law;
(g) " Completion of the Qualifying Transaction " has the meaning given to that term in TSXV Policies;
(h) " Consultant " has the meaning given to that term in the TSXV Policies, and includes a Consultant Company;
(i) " Consultant Company " means for an individual consultant, a company or partnership of which the individual is an employee, shareholder or partner;
(a) " CPC " means a Capital Pool Company within the meaning of the CPC Policy 2.4;
(b) " CPC Policy 2.4 " means Policy 2.4 – Capital Pool Companies of the TSXV Policies;
(c) " Director " has the meaning given to that term in the TSXV Policies;
(d) " Disability " means any disability with respect to an Optionee which the Board in its sole and unfettered discretion, considers likely to prevent permanently the Optionee from:
(i) being employed or engaged by the Company, its subsidiaries or another employer, in a position the same as or similar to that in which he was last employed or engaged by the Company or its subsidiaries, or
(ii) acting as a Director or Officer,

and " Date of Disability " means the effective date of the Disability as determined by the Board in its sole and unfettered discretion;

(e) " Discounted Market Price " has the meaning given to that term in the TSXV Policies;
~~(f) "~~ ~~Disinterested Shareholder Approval " means approval by: (i) a majority of the votes cast by the Company~~ ’ ~~s shareholders at a duly constituted shareholders~~ ’ ~~meeting, excluding votes attached to Common Shares beneficially owned by Insiders, and their Associates, to whom Options may be granted under this Plan; or (ii) written consent of~~

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~~the Company's shareholders holding a majority of the issued Common Shares, excluding Insiders, and their Associates, to whom Options may be granted under this Plan;~~

(f) ~~(g)~~ " Distribution " has the same meaning given to that term in the TSXV Policies;
(g) ~~(h)~~ " Eligible Person " means, from, time to time, any bona fide Director, Employee, Management Company Employee or Consultant of the Company or an Affiliate of the Company and a company wholly owned by individuals eligible to be granted Options;
(h)
~~(i)~~ " Employee " has the same meaning given to that term in the TSXV Policies;
(i) ~~(j)~~ " Exercise Price " means the amount payable per Common Share on the exercise of an Option, as determined in accordance with the terms of this Plan;
(j) ~~(k)~~ " Expiry Date " means 5:00 p.m. (Vancouver time) on the day on which an Option expires as specified in the Option Agreement for such Option or in accordance with the terms of this Plan, as amended from time to time;
(k) ~~(l)~~ " Grant Date " for an Option means the date of grant of the Option by the Board, whether or not the grant is subject to any Regulatory Approval;
(l) ~~(m)~~ " Insider " means:
(i) an insider as defined in the TSXV Policies or as defined in securities legislation applicable to the Company, and
(ii) an Associate of any ~~person~~ Person who is an Insider by virtue of Section 1.1( ~~ul~~ )(i) above;
(m) ~~(n)~~ " Investor Relations Activities " has the same meaning given to that term in the TSXV Policies;
(n) “ Investor Relations Service Provider ” includes any Consultant that performs Investor Relations Activities and any Director, Officer, Employee or Management Company Employee whose role and duties primarily consist of Investor Relations Activities;
(o) " IPO " means the Company's initial public offering of its Common Shares to the public in the Provinces of British Columbia, Alberta and any other jurisdiction in Canada;
(p) " IPO Share Price " means the price of the Common Shares offered to the public in the IPO;
(q) " Joint Actor " means a person acting "jointly or in concert with" another person as that phrase is interpreted in Multilateral Instrument 62-104 – Take-Over Bids and Issuer Bids ;
(r) ~~(q)~~ " Management Company Employee " has the same meaning given to that term in the TSXV Policies;
(s) ~~(r) "~~ Notice of Exercise " means a written notice in substantially the form attached as Exhibit A1 to Schedule A to this Agreement or as Exhibit B1 to Schedule B to this Agreement, as applicable;

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(t) ~~(s)~~ " Option " means the right to purchase Common Shares granted under this Plan to an Eligible Person;
(u) ~~(t)~~ " Option Agreement " means the stock option agreement between the Company and an Eligible Person whereby the Company provides notice of grant of an Option to such Eligible Person substantially in the form of Schedule A to this Agreement for Eligible Persons not engaged in Investor Relations Activities and substantially in the form of Schedule B to this Agreement for Eligible Persons ~~engaged in~~ who are Investor Relations ~~Activities~~ Service Providers;
(v) ~~(u)~~ " Option Shares " means Common Shares that may be issued to an Eligible Person upon the exercise of an Option;
(w) ~~(v) "~~ Optionee " means an Eligible Person who has been granted an Option under this Plan, and their heirs, executors and administrators;
(x)
~~(w)~~ " Person " means a corporation or an individual;
(y) ~~(x)~~ " Plan " means this Stock Option Plan, as may be amended and/or restated from time to time;
(z) ~~(y)~~ " Plan Shares " means the total number of Common Shares which may be reserved for issuance as Option Shares under this Plan as provided in Section 3.3;
(aa) ~~(z) "~~ Regulatory Approval " means the approval of the TSXV and any other securities regulatory authority that may have lawful jurisdiction over this Plan and any Options granted under this Plan, as may be required;
(bb) ~~(aa) "~~ Resulting Issuer " has the meaning given to that term in the TSXV Policies;
(cc) " Security Based Compensation " includes any Deferred Share Unit, Performance Share Unit, Restricted Share Unit, Securities for Services, Stock Appreciation Right, Stock Option, Stock Option Plan, any security purchase from treasury by a Participant which is financially assisted by the Issuer by any means whatsoever, and any other compensation or incentive mechanism involving the issuance or potential issuance of securities of the Issuer from treasury to a Participant, including securities issued under Part 6 of TSXV Policy 4.4, and for greater certainty, does not include:
(i) arrangements which do not involve the issuance from treasury or potential issuance from treasury of securities of the Issuer;
(ii) arrangements under which Security Based Compensation is settled solely in cash and/or securities purchased on the secondary market; and
(iii) Shares for Services and Shares for Debt arrangements under TSXV Policy 4.3 – Shares for Debt that have been conditionally accepted by has the meaning set out in the policies of the TSXV; the TSXV prior to November 24, 2021,

and all capitalized terms used in the foregoing definition of "Security Based Compensation" have the meanings set out in the policies of the TSXV;

(dd) “ Security Based Compensation Plan ” has the meaning given to that term in TSXV Policy 4.4;

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(ee) " Securities Act " means the Securities Act, R.S.B.C. 1996, c.418, together with the rules and regulations promulgated thereunder, as may be amended from time to time;
(ff) ~~(bb)~~ " Share Compensation Arrangement " means any Option under this Plan but also includes any other stock option, stock option plan, employee stock purchase plan or any other compensation or incentive mechanism involving the issuance or potential issuance of Common Shares, including a share purchase from treasury which is financially assisted by the Company by way of a loan, guarantee or otherwise;
(gg) ~~(cc)~~ " TSXV " means the TSX Venture Exchange and any successor thereto; ~~and~~
(hh) ~~(dd)~~ " TSXV Policies " means the policies and rules of the TSXV, as amended from time to tim ~~e.~~ ; and
(ii) " TSXV Policy 4.4 " means the TSXV's Policy 4.4 – Security Based Compensation .
1.2 Currency . Unless otherwise indicated, all dollar amounts referred to in this Plan are in Canadian funds.
1.3 Gender . As used in this Plan and any Schedules to this Plan, words importing the masculine gender will include the feminine and neuter genders and words importing the singular will include the plural and vice versa, unless the context otherwise requires.
1.4 Interpretation . This Plan will be governed by and construed in accordance with the laws of the Province of British Columbia without giving effect to any choice or conflict of law provision or rule that would cause the application of the domestic substantive laws of any other jurisdiction.

2. PURPOSE

The purpose of this Plan is to attract, retain and motivate Persons as Directors, Officers, key Employees and Consultants advance the interests of the Company by encouraging equity participation in the Company through the acquisition of Common Shares. It is the intention of the Company that, if and so long as the Common Shares are listed on the TSXV, at the discretion of the Board, this Plan will at all times be in compliance with the TSXV Policies and unless the Board determines otherwise, any inconsistencies between this Plan and the TSXV Policies whether due to inadvertence or changes in TSXV Policies will be resolved in favour of the TSXV Policies.

3. STOCK OPTION PLAN

3.1 Establishment of Plan . This Plan is established to recognize contributions made by Eligible Persons and to create an incentive for their continuing assistance to the Company and its Affiliates.
3.2 Administration . This Plan will be administered by the Board or any committee established by the Board for the purposes of administering this Plan under Section 3.2(c) below. Subject to the provisions of this Plan, the Board has the power and authority to:
(a) determine the Eligible Persons to whom Options are granted, to grant such Options, and to determine any terms and conditions, limitations and restrictions in respect of any particular Option grant, including but not limited to the nature and duration of the restrictions, if any, to be imposed upon the acquisition, sale or other disposition of Common Shares acquired upon exercise of the Option, and the nature of the events and the duration of the period, if any, in which any Optionee's rights in respect of an Option or Common Shares acquired upon exercise of an Option may be forfeited;

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(b) interpret the terms of this Plan, to make all such determinations and take all such other actions in connection with the implementation, operation and administration of this Plan, and to adopt, amend and rescind such administrative guidelines and other rules and regulations relating to this Plan as it deems advisable, including without limitation for the purpose of ensuring compliance with Section ~~3.10~~ 3.8 of this Plan;
(c) delegate all or such portion of its powers under this Plan as it may determine to one or more committees of the Board, either indefinitely or for such period of time as it may specify, and thereafter each such committee may exercise the powers and discharge the duties of the Board in respect of this Plan so delegated to the same extent as the Board is authorized by this Plan so to do; and
(d) make all other determinations and take all other actions in connection with the implementation and administration of this Plan including without limitation for the purpose of ensuring compliance with all applicable laws as it may deem necessary or advisable.

The Board's interpretations, determinations, guidelines, rules and regulations will be conclusive and binding upon the Company, Eligible Persons, Optionees and all other ~~personsP~~ ersons.

3.3 Maximum Number of Plan Shares . Subject to adjustment as provided in this Plan, the maximum total number of Plan Shares ~~reserved for issuancet~~ hat are issuable under this Plan ~~, including any other Common Shares which may be issued upon exercise of any other stock options granted by the Company outside of this Plan,~~ and under any and all of the Company's other Security Based Compensation will not exceed 10% of the total number of issued Common Shares (calculated on a non-diluted basis) ~~will not exceed 10% of the total number of issued Common Shares at the time the Option is granted~~ on the Grant Date or the date of issuance of any Security Based Compensation under any such other Security Based Compensation Plan(s). For greater certainty, if an Option is surrendered, terminated or expires without being exercised, the Option Shares reserved for issuance pursuant to such Option will be available for issuance upon exercise of Options subsequently granted under this Plan.
3.4 Eligibility . Options to purchase Common Shares may be granted to Eligible Persons from time to time by the Board. If and when the Common Shares are listed on the TSXV, Eligible Persons that are corporate entities will be required to agree in writing not to effect or permit any transfer of ownership or option of any of its shares, nor issue more of its shares to any other individual or entity as long as such Options remain outstanding, unless the written permission of the TSXV and the Company is obtained. ~~The~~ Both the Company ~~represents~~ and the Eligible Persons must ensure that Eligible Persons who are granted Options will be bona fide Directors, Employees or Consultants of the Company or a subsidiary of the Company at the time of grant of such Options, and the Option Agreement between the Company and an Optionee will contain representations to that effect given by both the Company and the Optionee.
3.5 Options Granted Under the Plan . All Options granted under this Plan will be evidenced by an Option Agreement in substantially the form attached to this Plan as Schedule A (or such other form determined by the Board) in the case of Optionees not engaged in Investor Relations Activities or Schedule B (or such other form determined by the Board) in the case of Optionees ~~engaged inw~~ ho are Investor Relations ~~ActivitiesS~~ ervice Providers, as applicable, showing the number of Option Shares, the term of the Option, a reference to vesting terms, if any, and the Exercise Price.

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3.6 Terms Incorporated . Subject to specific variations approved by the Board, all terms and conditions set out in this Plan will be deemed to be incorporated into and form part of an Option Agreement entered into by the Company and an Optionee. In the event of any discrepancy between this Plan and an Option Agreement, the provisions of this Plan will govern.
3.7 Limitations on Option Grants . If the Common Shares are listed on the TSXV, the following restrictions on the granting of Options are applicable under this Plan:
(a) The maximum aggregate number of Common Shares that are issuable under this Plan and under any and all of the Company's other Security Based Compensation granted or issued to Insiders (as a group) must not exceed 10% of the total number of issued and outstanding Common Shares at any point in time (unless the Company has obtained the requisite disinterested shareholder approval in accordance with TSXV Policy 4.4).
(b) ~~(a)~~ ~~Individuals . The total number of Options granted to any one Person (and, where permitted under TSXV Policies, any companies that are wholly owned by that Person) in a~~ The maximum aggregate number of Common Shares that are issuable under this Plan and under any and all of the Company's other Security Based Compensation granted or issued in any 12 ~~-~~ month period to Insiders (as a group) must not exceed ~~51~~ 0% of the total number of issued and outstanding Common Shares ~~determined,~~ calculated as at the Grant Dat ~~e,~~ or the date any other Security Based Compensation is granted or issued to any Insider (unless the Company has obtained ~~Disinterested Shareholder Approval~~ the requisite disinterested shareholder approval in accordance with ~~to Section 3.9(c~~ TSXV Policy 4.4).
~~(b)~~ ~~Consultants . The total number of Options granted to any one Consultant in a 12-month period must not exceed 2% of the issued Common Shares determined as at the Grant Date.~~
(c) The maximum aggregate number of Shares that are issuable under this Plan and under any and all of the Company's other Security Based Compensation granted or issued in any 12 month period to any one person (and where permitted under TSXV Policy 4.4, any companies that are wholly owned by such person) must not exceed 5% of the total number of issued and outstanding Shares, calculated as at the date any Security Based Compensation is granted or issued to the person (unless the Issuer has obtained the requisite disinterested shareholder approval in accordance with TSXV Policy 4.4).
(d) The maximum aggregate number of Common Shares that are issuable under this Plan and under any and all of the Company's other Security Based Compensation granted or issued in any 12 month period to any one Consultant must not exceed 2% of the total number of issued and outstanding Common Shares, calculated as at the date any Security Based Compensation is granted or issued to the Consultant.

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(e) Investor Relations Service Providers may not receive any Security Based Compensation other than Options granted under this Plan.
(f) ~~(c)~~ ~~Optionees Performing Investor Relations Activities . I~~ n accordance with the TSXV Policies, as long as the Company remains a CPC, the Company will not grant any Options ~~to any Persons engaged by the Company to provideo~~ r other Security Based Compensation to any Investor Relations ~~ActivitiesS~~ ervice Provider. If the Company completes a Qualifying Transaction and is no longer a CPC, the ~~totalm~~ aximum aggregate number of Common Shares that are issuable pursuant to all Options granted ~~to Eligible Persons engaged to providei~~ n any 12 month period to all Investor Relations ~~Activities in a 12-month period~~ Service Providers in aggregate must not exceed 2% of the total number of issued and outstanding Common Shares ~~determined as at the Grant Date, without the prior consent of TSXV~~ , calculated as at the date any Option is granted to any such Investor Relations Service Provider.
~~3.8~~ ~~Acceleration of Unvested Options . If there is a Change of Control, then all outstanding Options, whether fully vested and exercisable or remaining subject to vesting provisions or other limitations on exercise, will be exercisable in full to enable the Option Shares subject to such Options to be issued and tendered to such bid provided that notwithstanding anything to the contrary contained in this Plan the acceleration of any vested Options or the removal of any vesting provisions required under TSXV Policies are subject to prior written consent of the TSXV.~~
~~3.9~~ ~~Terms Requiring Disinterested Shareholder Approval . If the Common Shares are listed on the TSXV and if required by the TSXV Policies, the Company must obtain Disinterested Shareholder Approval of Options if the Options, together with any other Share Compensation Arrangement, could result at any time in:~~
~~(a) the total number of Common Shares reserved for issuance under Options granted to Insiders (as a group) exceeding 10% of the issued Common Shares;~~
~~(b) the grant to Insiders (as a group), within a 12-month period, of Options exceeding 10% of the issued Common Shares, calculated on the Grant Date; or~~
~~(c) the total number of Options granted to any one Optionee (and companies wholly owned by that Optionee) within a 12-month period exceeding 5% of the issued Common Shares, calculated on the Grant Date.~~
3.8 ~~3.10~~ Compliance with Laws . This Plan, the grant and exercise of Options and the Company's obligation to sell and deliver Common Shares upon exercise of Options will be subject to all applicable federal, provincial and foreign laws, rules and regulations, the rules and regulations of any stock exchange(s) on which the Common Shares are listed for trading and to such approvals by any regulatory or governmental agency as may, in the opinion of counsel to the Company, be required. The Company will not be obligated by any provision of this Plan or the grant of any Option under this Plan to issue or sell Common Shares in violation of such laws, rules and regulations or any condition of such approvals. No Option will be granted and no Common Shares issued or sold under this Plan where such grant, issue or sale would require legislation of this Plan or of Common Shares under the securities laws of any foreign jurisdiction and any purported grant of any Option or issue or sale of Common Shares under this Plan in violation of this provision will be void. In addition, the Company will have no obligation to issue any Common Shares pursuant to this Plan unless such Common Shares have been duly listed, upon official notice of issuance, with all stock exchanges on which the Common Shares are listed for trading. Common Shares issued and sold to Participants upon exercise of their

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Options may be subject to limitations on sale or resale under applicable securities laws.

3.9 ~~3.11~~ Effective Date . This Plan will be subject to the required Regulatory Approvals. Any Options granted under this Plan prior to such approvals being given will be conditional upon receipt of such approvals ~~being given,~~ and no such Options may be exercised unless and until such approvals ~~are given~~ have been obtained.

4. TERMS AND CONDITIONS OF OPTIONS

4.1 Exercise Price . The Board will establish the Exercise Price at the time each Option is granted, subject to the following conditions:
(a) for as long as the Company remains a CPC ~~any,~~ the Exercise Price for Options granted under this Plan will not be less than the greater of the IPO Share Price and the Discounted Market Price.
(b) if the Common Shares are listed on the TSXV and the Company is not a CPC, then the Exercise Price for ~~the O~~ ptions granted under this Plan will not be less than the Discounted Market Price;
(c) if the Common Shares are not listed, posted and trading on any stock exchange or quoted on any quotation system, then the Exercise Price for the Options granted will be determined by the Board at the time of grant;
(d) if an Option is granted within 90 days of a Distribution by a prospectus by the Company, the Exercise Price will not be less than the price that is the greater of the Discounted Market Price (as defined in the TSXV Policies) and the per Common Share price paid by public investors for Common Shares acquired under the Distribution by the prospectus, with the 90 day period beginning on the date a final receipt is issued for the prospectus; and
(e) in all other cases, the Exercise Price will be determined in accordance with the rules and regulations of any applicable regulatory authorities.

The Exercise Price will be subject to adjustment in accordance with the provisions of Section 4.9.

4.2 Term of Option . The Board will establish the Expiry Date for each Option at the time such Option is granted and shall not be more than ten years after the Grant Date, subject to the ~~following conditions:~~ operation of Section 4.8.
~~(a) the Option will expire upon the occurrence of any event set out in Section 4.8 and at the time period set out tin this Plan; and~~
~~(b) the Expiry Date cannot be longer than the maximum exercise period as determined by the TSXV Policies.~~
4.3 Automatic Extension of Term of Option . The Expiry Date will be automatically extended if the Expiry Date falls:
(a) within a blackout period during which the Company prohibits Optionees from exercising their Options, provided that:

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(i) the blackout period has been formally imposed by the Company under its internal trading policies as a result of the bona fide existence of undisclosed Material Information (as defined in the TSXV Policies). For greater certainty, in the absence of the Company formally imposing a blackout period, the Expiry Date of any Options will not be automatically extended in any circumstances;
(ii) the blackout period expires upon the general disclosure of the undisclosed Material Information and the Expiry Date of the affected Options is extended to no later than ten (10) business days after the expiry of the blackout period; ~~and~~
(iii) the automatic extension will not be permitted where the Optionee or the Company is subject to a cease trade order (or similar order under applicable securities laws) in respect of the Company’s securities; ~~ora~~ nd
(iv) the automatic extension is available to all Optionees under the same terms and conditions; or
(b) on a date which is not a business day, provided that:
(i) the Expiry Date is extended to no later than the end of the next business day; and
(ii) the automatic extension will not be permitted where the Optionee or the Company is subject to a cease trade order (or similar order under applicable securities laws) in respect of the Company’s securities.

4.4 Hold Period .

(a) If required by applicable securities laws, any Option Shares will be subject to a hold period expiring on the date that is four months and a day after the Grant Date, and the certificates representing any Option Shares issued prior to the expiry of such hold period will bear a legend in substantially the following form:

"UNLESS PERMITTED UNDER SECURITIES LEGISLATION, THE HOLDER OF THE SECURITIES REPRESENTED HEREBY MUST NOT TRADE THE SECURITIES BEFORE [INSERT THE DATE THAT IS FOUR MONTHS AND ONE DAY AFTER THE DATE OF GRANT]."

(b) If an Exchange Hold Period (as such term is defined in Policy 1.1 of the TSXV ~~Policies~~ ) is required in connection with the grant of any Option, all such Options and any Option Shares issuable upon exercise of such Options will be subject to a four month and one day hold period commencing on the Grant Date, and the certificates representing any Option Shares issued prior to the expiry of such hold period will bear a legend in substantially the following form:

"WITHOUT PRIOR WRITTEN APPROVAL OF THE TSX VENTURE EXCHANGE AND COMPLIANCE WITH ALL APPLICABLE SECURITIES LEGISLATION, THE SECURITIES REPRESENTED BY THIS CERTIFICATE MAY NOT BE SOLD, TRANSFERRED, HYPOTHECATED OR OTHERWISE TRADED ON OR THROUGH THE FACILITIES OF THE TSX VENTURE EXCHANGE OR OTHERWISE IN CANADA OR TO

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OR FOR THE BENEFIT OF A CANADIAN RESIDENT UNTIL [INSERT THE DATE THAT IS 4 MONTHS AND ONE DAY AFTER THE DATE OF GRANT] ."

4.5 Vesting of Options .

(a) No Option will be exercisable until it has vested.
(b) ~~(a) No Option will be exercisable until it has vested.~~ The Board will establish a vesting period or periods at the time each Option is granted to Eligible Persons, provided that Options granted to Eligible Persons ~~performingw~~ ho are Investor Relations ~~ActivitiesS~~ ervice Providers are required to vest in stages over at least 12 months with no more than ~~one quarter~~ 1/4 of the Options vesting ~~in any three month period.~~ no sooner than three months after the Grant Date, no more than another 1/4 of the Options vesting no sooner than six months after the Grant Date, no more than another 1/4 of the Options vesting no sooner than nine months after the Grant Date, and the remainder of the Options vesting no sooner than 12 months after the Grant Date.
(c) ~~(b)~~ If no vesting schedule is specified at the time of grant and the Optionee is not ~~performinga~~ n Investor Relations ~~Activities~~ Service Provider, the Option will vest immediately, unless otherwise determined by the Board or required by TSXV Policies.
4.6 ~~Non AssignableN~~ on-Assignable . All Options will be exercisable only by the Optionee to whom they are granted and ~~will not be assignable or transferablea~~ ll Options and other Security Based Compensation will be non-assignable and non-transferable.
4.7

Option Amendment .

(a) Exercise Price . The Board may amend the Exercise Price of any Options provided that, subject to Section 4.1, and if the Common Shares are traded on the TSXV, the Exercise Price of an Option may be amended only if at least six (6) months have elapsed since the later of:
(i) the Grant Date;
(ii) the date the Common Shares commenced trading on the TSXV; or
(iii) the date of the last amendment of the Exercise Price.
~~(b)~~ ~~Disinterested Shareholder Approval . If the Common Shares are listed on the TSXV, any proposed reduction in the Exercise Price of Options for Optionees that are Insiders will be subject to TSXV Policies, including Disinterested Shareholder Approval.~~
(b) ~~(c)~~ Term . The term of an Option cannot be extended so that the effective term of the Option exceeds ten years in total, or such other period as prescribed by the TSXV Policies. If the Common Shares are traded on the TSXV, an Option must be outstanding for at least one year before the Company can extend its term and the TSXV treats any extension of the length of the term of the Option as a grant of a new Option, which must comply with pricing and other requirements of this Plan.
(c) ~~(d)~~ TSXV Approval . If the Common Shares are listed on the TSXV, any proposed amendment to the terms of an Option must be approved by the TSXV prior to the exercise of such Option as amended.

(d) Disinterested Shareholder Approval . If the Common Shares are listed on the TSXV, disinterested shareholder approval in accordance with TSXV Policy 4.4 must be

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obtained for any proposed reduction in the Exercise Price or any extension of the term of outstanding Options granted to Optionees that are Insiders at the time of the proposed amendment.

4.8 Termination of Option . Unless the Board determines otherwise, the Options will terminate in the following circumstances:
(a) Termination of Services For Cause ~~, Refusal to Stand for Election or Upon Resignation . If the engagement of the~~ . If an Optionee ~~as a Director,t~~ hat is an Employee, a Management Company Employee or a Consultant ~~is terminatedc~~ eases to be an Eligible Person as a result of termination for cause (as determined by common law) ~~or if such Director, Employee or Consultant resigns, or in the case of a Director, refuses to stand for re-election, any Option granted under this Plan to~~ , any outstanding Option held by such Optionee on the date of termination will terminate and cease to be exercisable immediately ~~upon the Optionee ceasing to be a Director, Employee or Consultant by reason of termination for cause, refusal to stand for re-election or by resignation~~ .
(b) Termination of Services Without Cause . If ~~the engagement of thea~~ n Optionee ~~as a Director, Employee or Consultant of the Company is terminatedc~~ eases to be an Eligible Person for any reason other than ~~cause (as determined by common law), resignation, disability or death, the Optionee may exercise any Option granted tot~~ ermination for cause, Disability or death, such Optionee’s outstanding Option will terminate on the earlier of: (i) 180 days thereafter (30 days if the Optionee was an Investor Relations Service Provider); or (ii) the Expiry Date; or (iii) within a reasonable period as determined by the Board (the “ Exercise Period ”) commencing on the effective date the Optionee ~~to~~ ceases to be an Eligible Person (but only to the extent that such Option ~~was exercisable and had~~ has vested on or before the date ~~of termination until the date that is the earlier of (i) the Expiry Date, and (ii) the date that is six months after the effective date of the Optionee ceasing to be a Director, Employee or Consultant for that other reason, or such other date as the Board may determine, subject to the TSXV Policies.~~ the Optionee ceased to be an Eligible Person), and all rights to purchase Option Shares under such Option will expire as of the last day of such Exercise Period, provided however that the maximum Exercise Period shall be six (6) months, unless the Optionee has entered into a valid employment or consulting agreement that provides for a longer Exercise Period, but in no case shall the Exercise Period be greater than one year unless prior approval of the TSXV has been obtained.
(c) Death . If the Optionee ~~dies~~ ceases to be an Eligible Person due to his or her death or, in the case of an Optionee that is a company, the death of the person who provides management or consulting services to the Company or to an Affiliate of the Company, the Optionee’s lawful personal representatives, heirs or executors may exercise any Option granted to the Optionee to the extent such Option was exercisable and had vested on the date of death until the earlier of (i) the Expiry Date, and (ii) one year after the date of death of such Optionee.
(d) Disability . If the Optionee ceases to be an Eligible Person, due to his or her Disability, or, in the case of an Optionee that is a company, the Disability of the person who provides management or consulting services to the Company or to an Affiliate of the Company, the Optionee may exercise any Option granted under this Plan to the extent that such Option was exercisable and had vested on the Date of Disability until the earlier of (i) the Expiry Date, and (ii) the date that is 90 days after the Date of Disability.
(e) Changes in Status of Eligible Person . If the Optionee ceases to be one type of Eligible Person but concurrently is or becomes one or more other type of Eligible Person, the

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Option will not terminate but will continue in full force and effect and the Optionee may exercise the Option until the Expiry Date. Where the Optionee ceases to be any type of Eligible Person, the Option will terminate on the applicable date set forth in Sections 4.8(a) to 4.8(d) above. If the Optionee is an Employee, the Option will not be affected by any change of the Optionee’s employment where the Optionee continues to be employed by the Company or an Affiliate of the Company.

(f) CPC Options . Notwithstanding any other provisions of this Plan, if an Optionee does not continue as an Eligible Person of the Resulting Issuer following the Completion of the Qualifying Transaction, then each Option held by such Optionee will terminate and therefore cease to be exercisable on the later of:
- (i) 12 months after the Completion of the Qualifying Transaction; and
- (ii) 90 days after the Optionee ceases to be an Eligible Person of the Resulting Issuer.
4.9 Adjustment of the Number of Option Shares . The number of Common Shares subject to an Option will be subject to adjustment in the events and in the manner set forth below:
(a) Following the date an Option is granted, the Exercise Price for and the number of Option Shares which are subject to an Option will be adjusted, with respect to the then unexercised portion of such Option, in the events and in accordance with the provisions and rules set out in this Section 4.9, with the intent that the rights of Optionees under their Options are, to the extent possible, preserved and maintained notwithstanding the occurrence of such events. Any dispute that arises at any time with respect to any adjustment pursuant to such provisions and rules will be conclusively determined by the Board, and any such determination will be binding on the Company, the Optionees and all other affected parties.
(b) If there is a change in the outstanding Common Shares by reason of any share consolidation or split, reclassification or other capital reorganization, or a stock dividend, arrangement, amalgamation, merger, combination or exchange of shares, or corporate change or transaction affecting the Common Shares, the Board will make, as it deems advisable and subject to Regulatory Approval, if required, appropriate substitution or adjustment in:
- (i) the number and kind of shares or other securities or property reserved or to be allotted for issuance pursuant to this Plan;
- (ii) the number and kind of shares or other securities or property reserved or to be allotted for issuance pursuant to any outstanding unexercised Options, and in the exercise price for such shares or other securities or property; and
- (iii) the vesting of any Options, including the accelerated vesting thereof, on conditions the Board deems advisable, and if the Company undertakes an arrangement or is amalgamated, merged or combined with another corporation, the Board will make such provision for the protection of the rights of Optionees as it deems advisable.
(c) If Common Shares are issued to Optionees in lieu of dividends declared by the Company based on their holdings of Security Based Compensation, other than Common Shares that have already been issued, the maximum aggregate number of Common Shares that might possibly be issued under this Plan and any and all of the

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Company's other Security Based Compensation Plans must be included in calculating the limits set forth in Section 3.7, and the Company will make payment of such dividends in cash if it does not have a sufficient number of Common Shares available under its Security Based Compensation Plans to satisfy its obligations in respect of such dividends or where the issuance of Common Shares in lieu of dividends would result in the Company breaching a limit on grants or issuances contained in its Security Based Compensation Plans.

(d) ~~(c)~~ If the outstanding Common Shares are changed into or exchanged for a different number of shares or into or for other securities of the Company or securities of another corporation or entity, in a manner other than as specified in Section 4.9(b), then the Board, in its sole discretion, may make such adjustment to the securities to be issued upon any exercise of the Option and the exercise price to be paid for each such security following such event as the Board in its sole and absolute discretion determines to be equitable to give effect to the principle described in Section 4.9(a), and such adjustments will be effective and binding upon the Company and the Optionee for all purposes; provided that such adjustments would not result in the Company breaching a limit on grants or issuances contained in this Plan.
(e) Any adjustment provided in this Section 4.9, other than in connection with a security consolidation or security split, to Security Based Compensation granted or issued under a Security Based Compensation Plan will be subject to the prior acceptance of the TSXV,
(f) ~~(d)~~ No adjustment provided in this Section 4.9 will require the Company to issue a fractional share and the total adjustment with respect to each Option will be limited accordingly.
(g) ~~(e) T~~ he grant or existence of an Option will not in any way limit or restrict the right or power of the Company to effect adjustments, reclassifications, reorganizations, arrangements or changes of its capital or business structure, or to amalgamate, merge, consolidate, dissolve or liquidate, or to sell or transfer all or any part of its business or assets.

5. COMMITMENT AND EXERCISE PROCEDURES

5.1 Option Agreement . Upon grant of an Option under this Plan, an authorized director or officer of the Company will deliver to the Optionee an Option Agreement detailing the terms of such Options and upon such delivery the Optionee will be subject to this Plan and have the right to purchase the Option Shares at the Exercise Price set out tin this Plan subject to the terms and conditions of this Plan and the Option Agreement.
5.2 Manner of Exercise . An Optionee who wishes to exercise his vested Option, in its entirety or any portion thereof, may do so by delivering:
(a) a Notice of Exercise to the Company specifying the number of Option Shares being acquired upon exercise of his Option; and
(b) cash, a certified cheque or a bank draft payable to the Company for the total Exercise Price for the Option Shares being acquired.
5.3 Subsequent Exercises . If an Optionee exercises only a portion of the total number of his Options, then the Optionee may, from time to time, subsequently exercise all or part of the remaining vested Options until the Expiry Date.

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5.4 CPC Options . For so long as the Company is a CPC, no Option may be granted unless the Optionee first enters into an escrow agreement with the Company agreeing to deposit the Options, and the Option Shares acquired pursuant to the exercise of such Options, into escrow until the issuance of the Final Exchange Bulletin as defined in the CPC Policy 2.4 and in accordance with the terms of the escrow agreement and the CPC Policy 2.4.
5.5 Delivery of Certificate and Hold Periods . As soon as practicable after receipt of the Notice of Exercise described in Section 5.2 and payment in full for the Option Shares being received by the Company, the Company will or will direct its transfer agent to issue a certificate to the Optionee for the appropriate number of Option Shares. Such certificate issued will bear a legend stipulating any resale restrictions required under applicable securities laws and TSXV Policies.
5.6 Withholding . The Company may withhold from any amount payable to an Optionee, either under this Plan or otherwise, such amount as it reasonably believes is necessary to enable the Company to comply with the applicable requirements of any federal, provincial, local or foreign law, or any administrative policy of any applicable tax authority, relating to the withholding of tax or any other required deductions with respect to Options (" Withholding Obligations "). The Company may also satisfy any liability for any such Withholding Obligations, on such terms and conditions as the Company may determine in its discretion, by:
(a) requiring an Optionee, as a condition to the exercise of any Options, to make such arrangements as the Company may require so that the Company can satisfy such Withholding Obligations including, without limitation, requiring the Optionee to remit to the Company in advance, or reimburse the Company for, any such Withholding Obligations; or
(b) selling on the Optionee’s behalf, or requiring the Optionee to sell, any Option Shares acquired by the Optionee under this Plan, or retaining any amount which would otherwise be payable to the Optionee in connection with any such sale.

6. ACCELERATION OF UNVESTED OPTIONS AND EXPIRY DATE

6.1 Effect of Change of Control . If a Change of Control occurs, then all outstanding Options will become fully vested, whereupon such Options may be exercised in whole or in part by the Optionees, subject to the approval of the TSXV, if necessary.

6.2 Effect of Take-Over Bid . If a bona fide offer (an " Offer ") for Common Shares is made to the Optionee or to shareholders of the Company generally or to a class of shareholders which includes the Optionee, which Offer, if accepted in whole or in part, would result in the offeror becoming a control person of the Company, within the meaning of subsection 1(1) of the Securities Act, the Company shall, immediately upon receipt of notice of the Offer, notify each Optionee of full particulars of the Offer, whereupon (subject to the approval of the TSXV) all Option Shares subject to such Option will become vested (and for greater certainty, Options held by Investor Relations Service Providers will continue to vest as contemplated under Section 4.5 unless otherwise approved by the TSXV), and the Option may be exercised in whole or in part by the Optionee so as to permit the Optionee to tender the Option Shares received upon such exercise, pursuant to the Offer. However, if:

(a) the Offer is not completed within the time specified therein; or
(b) all of the Option Shares tendered by the Optionee pursuant to the Offer are not taken up or paid for by the offeror in respect thereof,

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then the Option Shares received upon such exercise, or in the case of clause (b) above, the Option Shares that are not taken up and paid for, may be returned by the Optionee to the Company and reinstated as authorized but unissued Shares and with respect to such returned Option Shares, the Option shall be reinstated as if it had not been exercised and the terms upon which such Option Shares were to become vested pursuant to Section 4.5 shall be reinstated. If any Option Shares are returned to the Company under this section 6.3, the Company shall immediately refund the purchase price to the Optionee for such Option Shares.

6.3 Acceleration of Expiry Date . If at any time when an Option granted under this Plan remains unexercised with respect to any Option Shares, an Offer is made by an offeror, the Board may, upon notifying each Optionee of full particulars of the Offer, declare all Option Shares issuable upon the exercise of Options granted under this Plan, vested, and declare that the Expiry Date for the exercise of all unexercised Options granted under this Plan is accelerated so that all Options will either be exercised or will expire prior to the date upon which Common Shares must be tendered pursuant to the Offer (subject to the approval of the TSXV). The Board will give each Optionee as much notice as possible of the acceleration of the Options under this section, except that not less than 5 business days' notice is required and more than 30 days' notice is not required.

7. 6. AMENDMENTS

7.1 ~~6.1~~ Amendment of the Plan . The Board ~~reserves the right, in its absolute discretion, to at any time~~ may from time to time, subject to applicable law and to the prior approval, if required, of the shareholders, the TSXV or any other stock exchange or regulatory body having authority over the Company or this Plan, amend, suspend, modify or terminate this Plan, or revoke or alter any action taken in connection with this Plan. ~~Any amendment to any provision of this Plan will be subject to shareholder approval, if applicable, and any necessary Regulatory Approval. I~~ f this Plan is suspended or terminated, the provisions of this Plan and any administrative guidelines, rules and regulations relating to this Plan will continue in effect for the duration of such time as any Option remains outstanding.

7.2 ~~6.2~~ Amendment of Outstanding Options . The Board may amend any Option with the consent of the affected Optionee and the approval of the TSXV, if required, including any shareholder approval required by the TSXV. For greater certainty, ~~Disinterested Shareholder Approval~~ disinterested shareholder approval is required by the TSXV for any reduction in the Exercise Price of an Option or the extension of the term of the Option if the Optionee is an Insider at the time of the proposed amendment.
7.3 ~~6.3~~ ~~A~~ mendment Subject to ~~Approval~~ Approvals . If the amendment of an Option requires ~~shareholder or Regulatory Approval~~ the approval of the Company's shareholders, subject to the TSXV Policies, such amendment may be made prior to such approvals being given, but no such amended Options may be exercised unless and until all such approvals are obtained.

8. 7. GENERAL

8.1 ~~7.1~~ Exclusion from Severance Allowance. Retirement Allowance or Termination Settlement . If the Optionee retires, resigns or is terminated from employment or engagement with the Company or any subsidiary of the Company, the loss or limitation, if any, pursuant to the Option Agreement with respect to the right to purchase Option Shares, will not give rise to any right to damages and will not be included in the calculation of nor form any part of any severance allowance, retiring allowance or termination settlement of any kind whatsoever in respect of such Optionee.

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8.2 ~~7.2~~ Employment and Services . Nothing contained in this Plan will confer upon or imply in favour of any Optionee any right with respect to office, employment or provision of services with the Company, or interfere in any way with the right of the Company to lawfully terminate the Optionee’s office, employment or service at any time pursuant to the arrangements pertaining to the Optionee. Participation in this Plan by an Optionee is voluntary.
8.3 ~~7.3~~ ~~N~~ o Rights as Shareholder . Nothing contained in this Plan nor in any Option granted under this Plan will be deemed to give any Optionee any interest or title in or to any Common Shares of the Company or any rights as a shareholder of the Company or any other legal or equitable right against the Company whatsoever other than as set forth in this Plan and pursuant to the exercise of any Option in accordance with the provisions of this Plan and the Option Agreement.
8.4 ~~7.4~~ ~~N~~ o Representation or Warranty . The Company makes no representation or warranty as to the future market value of Option Shares issued in accordance with the provisions of this Plan or to the effect of the Income Tax Act (Canada) or any other taxing statute governing the Options or the Option Shares issuable thereunder or the tax consequences to a Optionee. Compliance with applicable securities laws as to the disclosure and resale obligations of each Optionee is the responsibility of such Optionee and not the Company.
8.5 ~~7.5~~ ~~O~~ ther Arrangements . Nothing contained in this Plan will prevent the Board from adopting other or additional compensation arrangements, subject to any required approval.
8.6 ~~7.6~~ ~~N~~ o Fettering of Discretion . The awarding of Options under this Plan is a matter to be determined solely in the discretion of the Board. This Plan will not in any way fetter, limit, obligate, restrict or constrain the Board with regard to the allotment or issue of any Common Shares or any other securities in the capital of the Company or any of its Affiliates other than as specifically provided for in this Plan.

SCHEDULE A

STOCK OPTION AGREEMENT (NON-INVESTOR RELATIONS)

THIS STOCK OPTION AGREEMENT (this " Agreement ") is made as of the _ day of _, 20.

BETWEEN :

COMPASS VENTURE INC. , a company having an address at 1 North Bridge Road #02-07, High Street Centre, 179094, Singapore

(the " Company ")

AND :

� , of �

(the " Optionee ")

WHEREAS:

A. The Company’s board of directors (the " Board ") has approved and adopted an ~~incentivea~~ mended and restated stock option plan (the " Plan ") dated for reference �, 20___, as may be amended or restated from time to time, whereby the Board is authorized to grant Options (as defined in this Agreement) to Eligible Persons to acquire up to a maximum of 10% of the number of issued and outstanding common shares in the capital stock of the Company at the time of grant;

B. The Optionee provides services to the Company as a � [director/officer/employee/consultant] of the Company (the " Services "); and

C. The Company wishes to grant the Options to the Optionee as an incentive for the continued provision of the Services.

NOW THEREFORE THIS AGREEMENT WITNESSES that in consideration of other good and valuable consideration (the receipt and sufficiency of which is acknowledged), it is agreed by the Company and the Optionee (together, the " Parties ") as follows:

1. In�this�Agreement,�the�following�terms�will�have�the�following�meanings:�

~~(a) "~~ ~~Date of Grant " means the date of this Agreement;~~
(b) " Exercise�Payment "�means�the�amount�of�money�equal�to�the�Exercise�Price�multiplied� by�the�number�of�Option�Shares�specified�in�the�Notice�of�Exercise;�
(c) " Exercise�Price "�means��per�Option�Share;�

AC/6784436.2

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(d) " Expiry�Date "�means�the�date�which�is��years�after�the ~~Date�of�Grante~~ ffective�date�of�this� Agreement;�
(e) " Notice�of�Exercise "�means�a�notice�in�writing�addressed�to�the�Company�at�its�address� first�recited�(or�such�other�address�of�the�Company�as�may�from�time�to�time�be�notified� to�the�Optionee�in�writing),�substantially�in�the�form�attached�as�Exhibit�A1�to�this� Agreement,�which�notice�will�specify�the�number�of�Option�Shares�in�respect�of�which�the� Options�are�being�exercised;�
(f) " Options "�means�the�irrevocable�right�and�option�to�purchase,�from�time�to�time,�all,�or� any�part�of�the�Option�Shares�granted�to�the�Optionee�by�the�Company�under�Section�3� of�this�Agreement�and�the�terms�of�the�Plan;�
(g) " Option�Shares "�means�the�Shares�subject�to�the�Options;�
(h) " Personal�Information "�means�any�information�about�the�Optionee�contained�in�this� Agreement�or�as�required�to�be�disclosed�about�the�Optionee�by�the�Company�to�the� TSXV�or�any�securities�regulatory�authority�for�any�purpose,�including�those�purposes�set� out�in�Exhibit�A2�attached�to�this�Agreement.�
(i) " Securities "�means,�collectively,�the�Options�and�the�Option�Shares;�
(j) " Shareholders "�means�holders�of�record�of�the�Shares;�and�
(k) " Shares "�means�common�shares�in�the�capital�of�the�Company.�

2. All�capitalized�terms�used�but�not�otherwise�defined�in�this�Agreement�will�have�the�meaning� given�to�such�terms�in�the�Plan.��

3. The�Company�grants�to�the�Optionee,�subject�to�the�terms�and�conditions�of�the�Plan�and�as�set� forth�in�this�Agreement,�Options�to�purchase�a�total�of� � �Option�Shares�at�the�Exercise�Price.�

4. Unless�accelerated�at�the�discretion�of�the�Board�within�the�rules�and�regulations�of�any� applicable�regulatory�authorities,�the�Options�will�vest�as�follows� � [revise�as�applicable]:�

(a) � [provide]� on�the�Date�of�Grant;�
(b) � [provide]� on�the�first�anniversary�of�the�Date�of�Grant;�and�
(c) � [provide]� on�the�second�anniversary�of�the�Date�of�Grant.�

5. The�Options�will,�at�5:00�p.m.�(Vancouver�time)�on�the�Expiry�Date,�expire�and�be�of�no�further� force�or�effect�whatsoever.�

6. Subject�to�the�provisions�of�the�Plan�and�this�Agreement,�the�Options�will�be�exercisable�in� whole�or�in�part�(at�any�time�and�from�time�to�time�as�aforesaid)�by�the�Optionee�or�his�personal� representative�giving�a�Notice�of�Exercise�together�with�the�Exercise�Payment�by�cash,�certified� cheque�or�bank�draft,�made�payable�to�the�Company.�

7. Upon�the�exercise�of�all�or�any�part�of�the�Options�and�upon�receipt�by�the�Company�of�Notice� of�Exercise�and�the�Exercise�Payment,�the�Company�will�cause�to�be�delivered�to�the�Optionee�

AC/6784436.2

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or�his�or�her�personal�representative,�within�ten�(10)�days�following�receipt�by�the�Company�of� the�later�of:�(i)�Notice�of�Exercise�and�(ii)�the�Exercise�Payment,�a�certificate�in�the�name�of�the� Optionee�or�his�or�her�personal�representative�representing,�in�total,�the�number�of�Option� Shares�specified�in�the�Notice�of�Exercise.�

8. Nothing�in�this�Agreement�will�obligate�the�Optionee�to�purchase�any�Option�Shares�except� those�Option�Shares�in�respect�of�which�the�Optionee�will�have�exercised�the�Options�in�the� manner�provided�in�this�Agreement.�

9. The�Company�agrees�that�prior�to�the�earlier�of�the�expiration�of�the�Options�and�the�exercise� and�purchase�of�the�total�number�of�Option�Shares�represented�by�the�Options,�there�will�be� reserved�for�issuance�and�delivery�upon�exercise�of�the�Options�such�number�of�the�Company’s� authorized�and�unissued�Shares�as�will�be�necessary�to�satisfy�the�terms�and�conditions�of�this� Agreement.�

10. The�Optionee�acknowledges,�represents�and�warrants�to�the�Company�that:�

(a) the�Company�has�advised�the�Optionee�that�the�Company�is�relying�on�an�exemption�from� the�requirements�to�provide�the�Optionee�with�a�prospectus�under�applicable�securities� legislation�and,�as�a�consequence�of�acquiring�the�Securities�under�this�exemption,�certain� protections,�rights�and�remedies�provided�by�applicable�securities�legislation,�including,� in�most�circumstances,�statutory�rights�of�rescission�or�damages,�will�not�be�available�to� the�Optionee;�and�
(b) the�Optionee�is�not�a�U.S.�person�as�such�term�is�defined�in�Regulation�S�promulgated� under�the�United�States�Securities�Act�of�1933.�

11. The�Optionee�agrees�with�the�Company�that�the�Optionee�will�execute�and�deliver�any� documents�and�instruments�and�provide�any�information�as�may�be�reasonably�requested�by� the�Company,�from�time�to�time,�to�establish�the�availability�of�exemptions�from�prospectus� requirements�and�to�comply�with�any�applicable�securities�legislation�and�TSXV�Policies,� including�without�limitation�those�provisions�of�any�applicable�securities�legislation�and�TSXV� Policies�relating�to�escrow�requirements.�

12. The�Optionee�represents�and�warrants�to�the�Company�that�he�or�she�has�been�independently� advised�as�to�the�restrictions�on�the�Optionee’s�ability�to�transfer�or�re�sell�the�Option�Shares� and,�in�particular,�that�the�Option�Shares�may�be�subject�to�a�hold�period�in�accordance�with� applicable�securities�laws.�

13. The�Optionee�acknowledges�and�agrees�to�the�Company�making�a�notation�on�its�records�or� giving�instructions�to�the�registrar�and�transfer�agent�of�the�Company�in�order�to�implement�the� restrictions�on�transfer�and�resale�set�forth�and�described�in�this�Agreement.�

14. Unless�the�Company�permits�otherwise,�the�Optionee�will�pay�the�Company�in�cash�all�local,� provincial�and�federal�withholding�taxes�applicable�to�the�grant�or�exercise�of�the�Options,�or� the�transfer�or�other�disposition�of�Shares�acquired�upon�exercise�of�the�Options.��Any�such� payment�must�be�made�promptly�when�the�amount�of�such�obligation�becomes�determinable.�� In�addition�to�any�remedies�available�to�the�Company�under�the�Plan�to�comply�with� Withholding�Obligations,�the�Company�may�in�its�discretion�sell�on�the�Optionee’s�behalf,�or�

AC/6784436.2

��4��

require�the�Optionee�to�sell,�any�Shares�acquired�by�the�Optionee�under�the�Plan,�or�retain�any� amount�which�would�otherwise�be�payable�to�the�Optionee�in�connection�with�any�such�sale.�

15. This�Agreement�will�enure�to�the�benefit�of�and�be�binding�upon�the�Company,�its�successors� and�assigns,�and�the�Optionee�and�his�or�her�personal�representative,�if�applicable.�

16. Other�than�in�the�event�of�death�of�the�Optionee�in�which�case�the�Options�may�be�transferred� or�assigned�by�will�or�by�the�law�governing�the�devolution�of�property�to�the�Optionee’s� executor,�administrator�or�other� ~~person~~ personal�representative,�this�Agreement�will�not�be� transferable�or�assignable�by�the�Optionee�or�his�or�her�personal�representative�and�the�Options� may�be�exercised�only�by�the�Optionee�or�his�or�her�personal�representative�provided�that,� subject�to�the�prior�approval�of�the�Board�and,�if�necessary,�any�applicable�stock�exchange,�the� Optionee�may�assign�the�Options�to�a�company�of�which�all�of�the�voting�securities�are� beneficially�owned�by�the�Optionee,�which�ownership�will�continue�for�as�long�as�any�portion� of�the�Options�remain�unexercised.�

17. The�granting�of�the�Options�and�the�terms�and�conditions�of�this�Agreement�will�be�subject�to� Regulatory�Approval�as�required.�

18. The�Optionee�and�the�Company�represent�that�the�Optionee�is�a�Director,�Employee�or� Consultant�of�the�Company�or�any�Affiliate�of�the�Company�or�of�a�company�of�which�all�of�the� voting�securities�are�beneficially�owned�by�one�or�more�of�the�foregoing.�

19. The�Optionee�represents�that�he�or�she�has�not�been�induced�to�enter�into�this�Agreement�by� the�expectation�of�employment�or�continued�employment�or�retention�or�continued�retention� by�the�Company�or�any�Affiliate�of�the�Company.�

20. The�Options�will�terminate�in�accordance�with�the�Plan.�

21. The�Optionee�acknowledges�and�consents�to�the�fact�that�the�Company�is�collecting�the� Optionees’�Personal�Information�for�the�purposes�set�out�in�Exhibit�A2�which�may�be�disclosed� by�the�Company�to:�

(a) the�TSXV�or�securities�regulatory�authorities;�
(b) the�Company’s�registrar�and�transfer�agent;�
(c) Canadian�tax�authorities;�and�
(d) authorities�pursuant�to�the�Proceeds�of�Crime�(Money�Laundering)�and�Terrorist� Financing�Act�(Canada).�

By executing this Agreement, the Optionee is deemed to be consenting to the foregoing collection, use and disclosure of the Optionee’s Personal Information and to the retention of such Personal Information for as long as permitted or required by law or business practice. By executing this Agreement, the Optionee consents to the foregoing collection, use and disclosure of the Optionee’s Personal Information. The Optionee also consents to the filing of copies of any documents described in this Agreement as may be required to be filed with the TSXV or any securities regulatory authority in connection with the grant of the Options. An officer of the Company is available to answer questions about the collection of personal information by the Company.

AC/6784436.2

��5��

22. Neither�this�Agreement�nor�the�Plan�confers�on�the�Optionee�the�right�to�continue�in�the� employment�of�or�association�with�the�Company�or�any�Affiliate�of�the�Company,�nor�do�they� interfere�in�any�way�with�the�right�of�the�Optionee�or�the�Company�or�any�Affiliate�of�the� Company�to�terminate�the�Optionee’s�employment�at�any�time.��

23. Reference�is�made�to�the�Plan�for�particulars�of�the�rights�and�obligations�of�the�Optionee�and� the�Company�in�respect�of�the�terms�and�conditions�on�which�the�Options�are�granted,�all�to� the�same�effect�as�if�the�provisions�of�the�Plan�were�set�out�in�this�Agreement�and�to�all�of�which� the�Optionee�assents.�

24. The�Optionee�confirms�that�he�or�she�has�received�a�copy�of�the�Plan�and�acknowledges�the� terms�and�conditions�set�out�therein.��

25. Time�is�of�the�essence�of�this�Agreement.�

26. The�terms�of�the�Options�are�subject�to�the�provisions�of�the�Plan,�as�the�same�may�from�time� to�time�be�amended,�and�any�inconsistencies�between�this�Agreement�and�the�Plan,�as�the�same� may�be�from�time�to�time�amended,�will�be�governed�by�the�provisions�of�the�Plan.�

27. If�at�any�time�during�the�term�of�this�Agreement�the�Parties�deem�it�necessary�or�expedient�to� make�any�alteration�or�addition�to�this�Agreement,�they�may�do�so�by�means�of�a�written� agreement�between�them�which�will�be�supplemental�to�and�form�part�of�this�Agreement�and� which�will�be�subject�to�Regulatory�Approval�if�required.�

28. Wherever�the�plural�or�masculine�are�used�throughout�this�Agreement,�the�same�will�be� construed�as�meaning�singular�or�feminine�or�neuter�or�the�body�politic�or�corporate�where�the� context�requires.�

29. This�Agreement�may�be�executed�in�several�parts�in�the�same�form�and�such�parts�as�so� executed�will�together�constitute�one�original�agreement,�and�such�parts,�if�more�than�one,�will� be�read�together�and�construed�as�if�each�of�the�Parties�had�executed�one�copy�of�this� Agreement.�

30. Delivery�of�an�executed�copy�of�this�Agreement�by�electronic�facsimile�transmission�or�other� means�of�electronic�communication�capable�of�producing�a�printed�copy�will�be�deemed�to�be� execution�and�delivery�of�this�Agreement�as�of�the�date�first�above�written.�

[remainder�of�this�page�intentionally�left�blank.]

AC/6784436.2

��6��

31. This�Agreement�will�be�exclusively�governed�by�and�construed�in�accordance�with�the�laws�of� the�Province�of�British�Columbia�without�giving�effect�to�any�choice�or�conflict�of�law�provision� or�rule�that�would�cause�the�application�of�the�domestic�substantive�laws�of�any�other� jurisdiction,�and�will�bind�and�inure�to�the�benefit�of�the�Parties�and�their�respective�successors� and�assigns.�

IN WITNESS WHEREOF the Parties have executed this Agreement as of the date first set forth above.

COMPASS VENTURE INC.

Per:

Authorized Signatory

� [If the optionee is an individual use this signature block] WITNESSED BY: ) ) ) Name ) ) Address ) ) � ) ) Occupation )

[or if a company is the optionee, the following:]

�

Per: Authorized Signatory

AC/6784436.2

EXHIBIT A1

TO: Compass Venture Inc. (the " Company ")

1 North Bridge Road #02-07, High Street Centre, 79094, Singapore

NOTICE OF EXERCISE

This Notice of Exercise will constitute notice pursuant to Section 6 of the Stock Option Agreement (the " Agreement ") dated as of the _ day of ___, 20___, between the Company and the undersigned (the " Optionee ).

The Optionee elects to exercise the Optionee’s option to purchase ___ common shares of the Company at a price of $_ per share, for total consideration of $_, on the terms and conditions set forth in the Agreement and the Company's stock option plan. Such total consideration, in the form specified in Section 6 of the Agreement, accompanies this Notice of Exercise. The undersigned reconfirms the representations and warranties set out in the Agreement as of the date of this Notice of Exercise.

The Optionee directs the Company to issue, register and deliver the certificates representing the shares as follows:

The Optionee directs the Company to issue, register and deliver the certificates representing the shares as follows:	The Optionee directs the Company to issue, register and deliver the certificates representing the shares as follows:

Registration Information: Name to appear on certificates Address Address Telephone Number	Delivery Instructions:
	Name
	Address
	Address
	Telephone Number

DATED at _____, the _ day of ___, 20___.

Name of Optionee (Please type or print)

Signature of Optionee or Authorized Signatory

Name and Office of Authorized Signatory

Address of Optionee

AC/6784436.2

��2��

Telephone Number

EXHIBIT A2

==> picture [153 x 76] intentionally omitted <==

ACKNOWLEDGEMENT – PERSONAL INFORMATION

TSX Venture Exchange Inc. and its affiliates, authorized agents, subsidiaries and divisions, including the TSX Venture Exchange (collectively referred to as "the Exchange") collect Personal Information in certain Forms that are submitted by the individual and/or by an Issuer or Applicant and use it for the following purposes:

to conduct background checks,
to verify the Personal Information that has been provided about each individual,
to consider the suitability of the individual to act as an officer, director, insider, promoter, investor relations provider or, as applicable, an employee or consultant, of the Issuer or Applicant,
to consider the eligibility of the Issuer or Applicant to list on the Exchange,
to provide disclosure to market participants as to the security holdings of directors, officers, other insiders and promoters of the Issuer, or its associates or affiliates,
to conduct enforcement proceedings, and
to perform other investigations as required by and to ensure compliance with all applicable rules, policies, rulings and regulations of the Exchange, securities legislation and other legal and regulatory requirements governing the conduct and protection of the public markets in Canada.

As part of this process, the Exchange also collects additional Personal Information from other sources, including but not limited to, securities regulatory authorities in Canada or elsewhere, investigative, law enforcement or self-regulatory organizations, regulations services providers and each of their subsidiaries, affiliates, regulators and authorized agents, to ensure that the purposes set out above can be accomplished.

The Personal Information the Exchange collects may also be disclosed:

(a) to the agencies and organizations in the preceding paragraph, or as otherwise permitted or required by law, and they may use it in their own investigations for the purposes described above; and
(b) on the Exchange’s website or through printed materials published by or pursuant to the directions of the Exchange.

AC/6782097.1 AC/6784436.2

��3��

The Exchange may from time to time use third parties to process information and/or provide other administrative services. In this regard, the Exchange may share the information with such third party service providers.

AC/6782097.1 AC/6784436.2

SCHEDULE B

STOCK OPTION AGREEMENT (INVESTOR RELATIONS)

THIS STOCK OPTION AGREEMENT (this " Agreement ") is made as of the _ day of _, 20.

BETWEEN :

COMPASS VENTURE INC. , a company having an address at 1 North Bridge Road #02-07, High Street Centre, 79094, Singapore

(the " Company ")

AND :

� , of �

(the " Optionee ")

WHEREAS:

B. The Optionee provides investor relations services to the Company as a consultant (the " Services "); and

C. The Company wishes to grant the Options to the Optionee as an incentive for the continued provision of the Services;

1. In�this�Agreement,�the�following�terms�will�have�the�following�meanings:�

(a) " Date�of�Grant "�means�the�date�of�this�Agreement;�
(b) " Exercise�Payment "�means�the�amount�of�money�equal�to�the�Exercise�Price�multiplied� by�the�number�of�Option�Shares�specified�in�the�Notice�of�Exercise;�
(c) " Exercise�Price "�means��per�Option�Share;�
(d) " Expiry�Date "�means�the�date�which�is��years�after�the�Date�of�Grant;�

AC/6784436.2

� 2��

(e) " Notice�of�Exercise "�means�a�notice�in�writing�addressed�to�the�Company�at�its�address� first�recited�(or�such�other�address�of�the�Company�as�may�from�time�to�time�be�notified� to�the�Optionee�in�writing),�substantially�in�the�form�attached�as�Exhibit�B1�to�this� Agreement,�which�notice�will�specify�the�number�of�Option�Shares�in�respect�of�which�the� Options�are�being�exercised;�
(f) " Options "�means�the�irrevocable�right�and�option�to�purchase,�from�time�to�time,�all,�or� any�part�of�the�Option�Shares�granted�to�the�Optionee�by�the�Company�under�Section�3� of�this�Agreement�and�the�terms�of�the�Plan;�
(g) " Option�Shares "�means�the�Shares�subject�to�the�Options;�
(h) " Personal�Information "�means�any�information�about�the�Optionee�contained�in�this� Agreement�or�as�required�to�be�disclosed�about�the�Optionee�by�the�Company�to�the� TSXV�or�any�securities�regulatory�authority�for�any�purpose,�including�those�purposes�set� out�in�Exhibit�B2�attached�to�this�Agreement.�
(i) " Securities "�means,�collectively,�the�Options�and�the�Option�Shares;�
(j) " Shareholders "�means�holders�of�record�of�the�Shares;�and�
(k) " Shares "�means�common�shares�in�the�capital�of�the�Company.�

2. All�capitalized�terms�used�but�not�otherwise�defined�in�this�Agreement�will�have�the�meaning� given�to�such�terms�in�the�Plan.��

4. The�Options�will�vest�as�follows� � [TSXV�rules�require�the�options�to�vest�in�stages�over�at�least� 12�months�with�no�more�than�one�quarter�of�the�options�vesting�in�any�3�month�period]:�

(a) � [provide]� on�the�date�that�is�3�months�after�the�Date�of�Grant;��
(b) � [provide]� on�the�date�that�is�6�months�after�the�Date�of�Grant;��
(c) � [provide]� on�the�date�that�is�9�months�after�the�Date�of�Grant;�and�
(d) � [provide]� on�the�date�that�is�12�months�after�the�Date�of�Grant.�

5. The�Options�will,�at�5:00�p.m.�(Vancouver�time)�on�the�Expiry�Date,�expire�and�be�of�no�further� force�or�effect�whatsoever.�

6. Subject�to�the�provisions�of�the�Plan�and�this�Agreement,�the�Options�will�be�exercisable�in� whole�or�in�part�(at�any�time�and�from�time�to�time�as�aforesaid)�by�the�Optionee�or�his�personal� representative�giving�a�Notice�of�Exercise�together�with�the�Exercise�Payment�by�cash�or�by� certified�cheque,�made�payable�to�the�Company.�

7. Upon�the�exercise�of�all�or�any�part�of�the�Options�and�upon�receipt�by�the�Company�of�the� Notice�of�Exercise�and�the�Exercise�Payment,�the�Company�will�cause�to�be�delivered�to�the� Optionee�or�his�or�her�personal�representative,�within�ten�(10)�days�following�receipt�by�the�

AC/6784436.2

� 3��

Company�of�the�later�of�(i)�the�Notice�of�Exercise,�and�(ii)�the�Exercise�Payment,�a�certificate�in� the�name�of�the�Optionee�or�his�or�her�personal�representative�representing,�in�total,�the� number�of�Option�Shares�specified�in�the�Notice�of�Exercise.�

10. The�Optionee�acknowledges,�represents�and�warrants�to�the�Company�that:�

(a) the Company has advised the Optionee that the Company is relying on an exemption from the requirements to provide the Optionee with a prospectus under applicable securities legislation and, as a consequence of acquiring the Securities under this exemption, certain protections, rights and remedies provided by applicable securities legislation, including, in most circumstances, statutory rights of rescission or damages, will not be available to the Optionee; and
(b) the Optionee is not a U.S. person as such term is defined in Regulation S promulgated under the United States Securities Act of 1933.

AC/6784436.2

� 4��

17. The�granting�of�the�Options�and�the�terms�and�conditions�of�this�Agreement�will�be�subject�to� Regulatory�Approval�as�required.�

20. The�Options�will�terminate�in�accordance�with�the�Plan.��

21. The�Optionee�acknowledges�and�consents�to�the�fact�that�the�Company�is�collecting�the� Optionees’�Personal�Information�for�the�purposes�set�out�in�Exhibit�B2�which�may�be�disclosed� by�the�Company�to:�

(a) the�TSXV�or�securities�regulatory�authorities;�
(b) the�Company’s�registrar�and�transfer�agent;�
(c) Canadian�tax�authorities;�and�
(d) authorities�pursuant�to�the� Proceeds�of�Crime�(Money�Laundering)� and� Terrorist�Financing� Act�(Canada) .�

By�executing�this�Agreement,�the�Optionee�is�deemed�to�be�consenting�to�the�foregoing� collection,�use�and�disclosure�of�the�Optionee’s�Personal�Information�and�to�the�retention�of� such�Personal�Information�for�as�long�as�permitted�or�required�by�law�or�business�practice.�By� executing�this�Agreement,�the�Optionee�consents�to�the�foregoing�collection,�use�and�disclosure� of�the�Optionee’s�Personal�Information.��The�Optionee�also�consents�to�the�filing�of�copies�of� any�documents�described�in�this�Agreement�as�may�be�required�to�be�filed�with�the�TSXV�or�any� securities�regulatory�authority�in�connection�with�the�grant�of�the�Options.�An�officer�of�the�

AC/6784436.2

� 5��

Company�is�available�to�answer�questions�about�the�collection�of�personal�information�by�the� Company.�

24. The Optionee confirms that he or she has received a copy of the Plan and acknowledges the terms and conditions set out therein.

25. Time�is�of�the�essence�of�this�Agreement.�

[remainder�of�this�page�intentionally�left�blank.]�

AC/6784436.2

� 6��

IN WITNESS WHEREOF the Parties have executed this Agreement as of the date first set forth above.

COMPASS VENTURE INC.

Per:

Authorized Signatory

� [If the optionee is an individual use this signature block] WITNESSED BY: ) ) ) Name ) ) Address ) ) � ) ) Occupation )

[or if a company is the optionee, the following:]

�

Per: Authorized Signatory

AC/6784436.2

EXHIBIT B1

TO: COMPASS VENTURE INC. (the " Company ")

1 North Bridge Road #02-07, High Street Centre, 79094, Singapore

NOTICE OF EXERCISE

The Optionee elects to exercise the Optionee’s option to purchase ___ common shares of the Company at a price of $_ per share, for total consideration of $_, on the terms and conditions set forth in the Agreement and the Company's stock option plan. Such total consideration, in the form specified in Section 6 of the Agreement, accompanies this notice. The undersigned reconfirms the representations and warranties set out in the Agreement as of the date of this Notice of Exercise.

The Optionee directs the Company to issue, register and deliver the certificates representing the shares as follows:

follows:	follows:

Registration Information: Name to appear on certificates Address Address Telephone Number	Delivery Instructions:
	Name
	Address
	Address
	Telephone Number

DATED at _____, the _ day of ___, 20___.

Name of Optionee (Please type or print)

Signature of Optionee or Authorized Signatory

Name and Office of Authorized Signatory Address of Optionee Address of Optionee

Telephone Number

AC/6784436.2

EXHIBIT B2

==> picture [153 x 76] intentionally omitted <==

ACKNOWLEDGEMENT – PERSONAL INFORMATION

to conduct background checks,
to verify the Personal Information that has been provided about each individual,
to consider the suitability of the individual to act as an officer, director, insider, promoter, investor relations provider or, as applicable, an employee or consultant, of the Issuer or Applicant,
to consider the eligibility of the Issuer or Applicant to list on the Exchange,
to provide disclosure to market participants as to the security holdings of directors, officers, other insiders and promoters of the Issuer, or its associates or affiliates,
to conduct enforcement proceedings, and
to perform other investigations as required by and to ensure compliance with all applicable rules, policies, rulings and regulations of the Exchange, securities legislation and other legal and regulatory requirements governing the conduct and protection of the public markets in Canada.

The Personal Information the Exchange collects may also be disclosed:

(a) to the agencies and organizations in the preceding paragraph, or as otherwise permitted or required by law, and they may use it in their own investigations for the purposes described above; and
(b) on the Exchange’s website or through printed materials published by or pursuant to the directions of the Exchange.

AC/6784436.2

AI assistant

Compass Venture Inc. — Proxy Solicitation & Information Statement 2022

47956_rns_2022-11-04_0ff475bc-4bc8-4bf0-b0b7-7ed876e981c6.pdf

COMPASS�VENTURE�INC.�

AND�

MANAGEMENT�INFORMATION�CIRCULAR�

COMPASS�VENTURE�INC.�

NOTICE�OF�ANNUAL�MEETING�OF�SHAREHOLDERS�

IMPACT�OF�COVID�19�

Option:� +1�(844)�784�9977,,[PASSCODE]#���Canada�(Toll�free)�

By�Order�of�the�Board�of�Directors�of�Compass�Venture�Inc.

COMPASS�VENTURE�INC.� MANAGEMENT�INFORMATION�CIRCULAR�

GENERAL�PROXY�INFORMATION�

Solicitation�of�Proxies�

APPOINTMENT�AND�REVOCATION�OF�PROXIES�

Appointment�of�a�Proxy�

Revoking�a�Proxy�

Signature�on�Proxies�

Voting�of�Proxies�

Advice�to�Beneficial�Shareholders�

VOTING�SHARES�AND�PRINCIPAL�HOLDERS�OF�VOTING�SECURITIES�

INDEBTEDNESS�OF�DIRECTORS�AND�OFFICERS�

INTEREST�OF�INFORMED�PERSONS�IN�MATERIAL�TRANSACTIONS�

INTEREST�OF�DIRECTORS�AND�OFFICERS�IN�MATTERS�TO�BE�ACTED�UPON�

STATEMENT�OF�EXECUTIVE�COMPENSATION�

Named�Executive�Officer�and�Director�Compensation,�Excluding�Compensation�Securities�

Stock�Options�and�Other�Compensation�Securities

Stock�Option�Plans�and�Other�Incentive�Plans�

The�Current�Stock�Option�Plan�

The�Proposed�Amendments�to�the�Current�Stock�Option�Plan�

Employment,�Consulting�and�Management�Agreements�

Oversight�and�Description�of�Director�and�Named�Executive�Officer�Compensation�

Director�Compensation

Executive�Officer�Compensation�

Pension�Plan�Benefits�

SECURITIES�AUTHORIZED�FOR�ISSUANCE�UNDER�EQUITY�COMPENSATION�PLANS�

AUDIT�COMMITTEE�

Composition�of�the�Audit�Committee�

Relevant�Education�and�Experience�

Audit�Committee�Oversight�

Reliance�on�Certain�Exemptions�

Audit�Committee�Charter�

External�Auditor�Service�Fees�(By�Category)�

AUDITOR�

CORPORATE�GOVERNANCE�

Independence�of�Board�Members��

Management�Supervision�by�Board�

Participation�of�Directors�in�Other�Reporting�Issuers�

Orientation�and�Continuing�Education�

Ethical�Business�Conduct�

Nomination�of�Directors�

Compensation�of�Directors�and�the�CEO�

Board�Committees�

Assessments�

MATTERS�TO�BE�CONSIDERED�AT�THE�MEETING�

1. Financial�Statements�

2. Appointment�of�Auditor�

" BE�IT�RESOLVED�that:

3. Number�of�Directors�

" BE�IT�RESOLVED�that:

4. Election�of�Directors�

" BE�IT�HEREBY�RESOLVED�that:

Cease�Trade�Orders,�Bankruptcies�and�Penalties�

5. Approval�of�Amended�Stock�Option�Plan��

" BE�IT�RESOLVED,�as�an�ordinary�resolution,�that:

ADDITIONAL�INFORMATION�

DIRECTOR�APPROVAL�

Schedule�"A"�

AUDIT�COMMITTEE�CHARTER�

COMPASS VENTURE INC.

AS AT MAY 12, 2020

COMPASS VENTURE INC.

(the "Company")

AUDIT COMMITTEE CHARTER

MANDATE

COMPOSITION

MEETINGS

RESPONSIBILITIES AND DUTIES

1. Documents/Reports Review

2. External Auditor

Compass Venture Inc. Proxy Solicitation & Information Statement 2022

Option:� +1�(844)�784�9977,,[PASSCODE]#��Canada�(Toll�free)�

AMENDED AND RESTATED ROLLING STOCK OPTION PLAN AS OF JANUARY 19O CTOBER 25, 2022

7. 6. AMENDMENTS

8. 7. GENERAL