Title: Understanding the Virgin Islands Sample Common Shares Purchase Agreement between Visible Genetics, Inc. and Investors Introduction: The Virgin Islands Sample Common Shares Purchase Agreement represents a legally binding document that outlines the terms and conditions of the acquisition of common shares in Visible Genetics, Inc. by investors. This detailed description will shed light on the key components of such an agreement, highlighting its significance and various types, if applicable. 1. Overview of the Virgin Islands Sample Common Shares Purchase Agreement: — A comprehensive agreement that governs the purchase and sale of common shares in Visible Genetics, Inc. — Sets the terms, conditions, rights, and obligations of both the company and investors. 2. Key Components and Provisions: — Purchase Price: Specifies the agreed-upon amount or formula used to determine the purchase price of the common shares. — Closing Date: The date on which the transaction will be closed, finalizing the share purchase. — Representations and Warranties: Ensures that both parties provide accurate information about their legal and financial status. — Conditions Precedent: Lists the conditions that must be satisfied for the transaction to proceed, such as regulatory approvals or shareholder consent. — Indemnification: Specifies the responsibilities for covering losses, damages or liabilities arising from misrepresentation, breach of warranties, or other breaches of the agreement. — Governing Law and Jurisdiction: Determines the applicable legal framework and courts that will have jurisdiction in case of disputes. 3. Types of the Virgin Islands Sample Common Shares Purchase Agreement: Depending on the specific requirements and circumstances, Visible Genetics, Inc. and investors may adopt various types of common shares purchase agreements, such as: — Asset Purchase Agreement: If the sale includes a transfer of specific assets along with the common shares. — Stock Purchase Agreement: Involves the purchase of shares from existing shareholders. — Share Subscription Agreement: Pertains to the issuance of new shares directly by the company to the investors. Conclusion: The Virgin Islands Sample Common Shares Purchase Agreement provides a structured and legally binding framework for investors acquiring common shares in Visible Genetics, Inc. This detailed description highlighted the various key components and provisions that are typically addressed in such agreements. It also mentioned different types of common shares purchase agreements that may be considered, depending on specific circumstances.