The Hennepin Minnesota Registration Rights Agreement is an important legal document that establishes the rights and obligations between Visible Genetics, Inc. and purchasers of common shares of the company. This agreement ensures that the purchasers have the ability to register their shares with the appropriate regulatory authorities, allowing them to freely trade and sell their securities. Visible Genetics, Inc., a renowned biotechnology company, employs this agreement to provide purchasers of common shares with certain rights relating to the registration of their shares. By entering into this agreement, Visible Genetics, Inc. acknowledges the importance of facilitating liquidity for its shareholders and creating a transparent market for its common shares. The Hennepin Minnesota Registration Rights Agreement outlines the procedures and requirements for the registration process. It includes provisions regarding the filing of registration statements with the Securities and Exchange Commission (SEC), the timing and expenses associated with the registration, and the allocation of any proceeds derived from the sale of the registered shares. Under this agreement, purchasers of common shares may enjoy various types of registration rights, depending on their specific circumstances and the terms negotiated between the parties. Common types of registration rights include: 1. Demand Registration Rights: This gives the purchaser the right to request that Visible Genetics, Inc. register their shares for sale to the public, subject to certain limitations and conditions. 2. Piggyback Registration Rights: These rights allow the purchaser to include their shares in a registration statement filed by Visible Genetics, Inc. on behalf of the company or other shareholders. 3. Form S-3 Registration Rights: If Visible Genetics meets certain criteria outlined in the agreement, the purchasers may have the right to utilize the simplified registration process provided by Form S-3, which allows for a quicker and less burdensome registration process. 4. Shelf Registration Rights: This provision allows the purchasers to request that their shares be included in a shelf registration statement, which permits the sale of securities to occur over an extended period without needing to file additional registration statements. It is essential for both Visible Genetics, Inc. and the purchasers of common shares to fully understand the terms and obligations set forth in the Hennepin Minnesota Registration Rights Agreement. This agreement not only protects the interests of the purchasers but also ensures compliance with relevant securities laws and regulations. To summarize, the Hennepin Minnesota Registration Rights Agreement between Visible Genetics, Inc. and the purchasers of common shares establishes the necessary provisions and rights to facilitate the registration and sale of securities. This agreement plays a crucial role in maintaining transparency and liquidity within Visible Genetics, Inc., benefiting both the company and its shareholders.