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Opinion.pdf · Opinion Based upon and subject to the foregoing, wc are of the opinion on the date hereof, that the valuation and the Share Exchange ratio, including the Exchange ratio

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Page 1: Opinion.pdf · Opinion Based upon and subject to the foregoing, wc are of the opinion on the date hereof, that the valuation and the Share Exchange ratio, including the Exchange ratio

Page 2: Opinion.pdf · Opinion Based upon and subject to the foregoing, wc are of the opinion on the date hereof, that the valuation and the Share Exchange ratio, including the Exchange ratio

Page 3: Opinion.pdf · Opinion Based upon and subject to the foregoing, wc are of the opinion on the date hereof, that the valuation and the Share Exchange ratio, including the Exchange ratio

Page 4: Opinion.pdf · Opinion Based upon and subject to the foregoing, wc are of the opinion on the date hereof, that the valuation and the Share Exchange ratio, including the Exchange ratio

Page 5: Opinion.pdf · Opinion Based upon and subject to the foregoing, wc are of the opinion on the date hereof, that the valuation and the Share Exchange ratio, including the Exchange ratio

Page 6: Opinion.pdf · Opinion Based upon and subject to the foregoing, wc are of the opinion on the date hereof, that the valuation and the Share Exchange ratio, including the Exchange ratio

Page 7: Opinion.pdf · Opinion Based upon and subject to the foregoing, wc are of the opinion on the date hereof, that the valuation and the Share Exchange ratio, including the Exchange ratio

Page 8: Opinion.pdf · Opinion Based upon and subject to the foregoing, wc are of the opinion on the date hereof, that the valuation and the Share Exchange ratio, including the Exchange ratio

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