AGREEMENT AND PLAN OF
MERGER
This Agreement And Plan Of Merger
dated as of the 14th day of September, 2009.
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BETWEEN:
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CIGNUS
VENTURES INC., a Nevada
corporation, having a corporate
office at Suite 410-103 East Holly Street, National Bank
Building,
Bellingham, WA 98225
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(“Parent”)
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OF THE FIRST PART
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AND:
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SMARTLINX
ACQUISITION CORP., a
Nevada corporation, having
its registered office at 8275 S. Eastern Avenue, Suite 200, Las
Vegas, Nevada 89123
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(“Subsidiary”)
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OF THE SECOND PART
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WHEREAS:
A. This Agreement and Plan of
Merger (this “Agreement”) is made and entered into as
of September 14, 2009 between Parent and Subsidiary. Parent and
Subsidiary are from time to time herein referred to as the
“Constituent Corporations”;
B. Subsidiary is the wholly-owned
subsidiary of Parent and is a corporation duly organized and
existing under the laws of the State of Nevada;
C. Each of the Boards of
Directors of the Constituent Corporations deem it advisable and in
the best interests of Constituent Corporations and their respective
shareholders that Subsidiary be merged with and into
Parent;
D. By consent resolution dated
September 14, 2009, the Board of Directors of Subsidiary has
approved the Plan of Merger embodied in this Agreement;
E. By consent resolution dated
September 14, 2009, the Board of Directors of Parent has approved
the Plan of Merger embodied in this Agreement.
NOW THEREFORE
, in consideration of the mutual
agreements and covenants set forth herein, the Constituent
Corporations do hereby agree to merge on the terms and conditions
herein provided, as follows:
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1. THE
MERGER
1.1 The
Merger
Upon the terms and
subject to the conditions hereof, on the Effective Date (as
hereinafter defined), Subsidiary shall be merged with and into
Parent in accordance with the applicable laws of the State of
Nevada (the “Merger”). The separate existence of
Subsidiary shall cease, and Parent shall be the surviving
corporation (the “Surviving Corporation”) and shall be
governed by the laws of the State of Nevada.
1.2 Effective
Date
As
soon as practicable following the execution of this Agreement, the
Parent and the Subsidiary shall cause Articles of Merger,
substantially in the form attached hereto as Appendix A, to be
executed by their respective representatives and filed with the
Nevada Secretary of State. The effective date of the Merger shall
be October 13, 2009 (the “Effective Date”).
1.3 Articles of
Incorporation
On
the Effective Date, the Articles of Incorporation of Parent, as in
effect immediately prior to the Effective Date, shall continue in
full force and effect as the Articles of Incorporation of the
Surviving Corporation, except that Article 1 of the Articles of
Incorporation of Parent, as the Surviving Corporation, shall be
amended to state that the name of the corporation is
“Smartlinx Inc.”
1.4
Bylaws
On
the Effective Date, the Bylaws of Parent, as in effect immediately
prior to the Effective Date, shall continue in full force and
effect as the bylaws of the Surviving Corporation.
1.5 Directors and
Officers
The
directors and officers of Parent immediately prior to the Effective
Date shall be the directors and officers of the Surviving
Corporation, until their successors shall have been duly elected
and qualified or until otherwise provided by law, the Articles of
Incorporation of the Surviving Corporation or the Bylaws of the
Surviving Corporation.
2. CONVERSION OF
SHARES
2.1 Subsidiary Common
Stock
Upon the Effective
Date, by virtue of the Merger and without any action on the part of
the shareholder thereof, each share in the common stock of
Subsidiary issued and outstanding immediately prior to the
Effective Date shall be cancelled.
2.2 Parent Common
Stock
Each share in the
common stock of Parent issued and outstanding immediately prior to
the Effective Date shall continue to be issued and outstanding
shares of the Surviving Corporation on and after the Effective
Date.
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3. EFFECT OF THE
MERGER
3.1 Rights, Privileges,
Etc.
On
the Effective Date of the Merger, the Surviving Corporation,
without further act, deed or other transfer, shall retain or
succeed to, as the case may be, and possess and be vested with all
the rights, privileges, immunities, powers, franchises and
authority, of a public as well as of a private nature, of
Subsidiary and Parent; all property of every description and every
interest therein, and all debts and other obligations of or
belonging to or due to each of Subsidiary and Parent on whatever
account shall thereafter be taken and deemed to be held by or
transferred to, as the case may be, or invested in the Surviving
Corporation without further act or deed, title to any real estate,
or any interest therein vested in Subsidiary or Parent, shall not
revert or in any way be impaired by reason of this merger; and all
of the rights of creditors of Subsidiary and Parent shall be
preserved unimpaired, and all liens upon the property of Subsidiary
or Parent shall be preserved unimpaired, and all debts,
liabilities, obligations and duties of the respective corporations
shall thenceforth remain with or be attached to, as the case may
be, the Surviving Corporation and may be enforced against it to the
same extent as if all of said debts, liabilities, obligations and
duties had been incurred or contracted by it.
3.2 Further
Assurances
From time to time,
as and when required by the Surviving Corporation or by its
successors and assigns, there shall be executed and delivered on
behalf of Subsidiary such deeds and other instruments, and there
shall be taken or caused to be taken by it such further other
action, as shall be appropriate or necessary in order to vest or
perfect in or to confirm of record or otherwise in the Surviving
Corporation the title to and possession of all the property,
interest, assets, rights, privileges, immunities, powers,
franchises and authority of Subsidiary and otherwise to carry out
the purposes of this Agreement, and the officers and directors of
the Surviving Corporation are fully authorized in the name and on
behalf of Subsidiary or otherwise to take any and all such action
and to execute and deliver any and all such deeds and other
instruments.
4.
GENERAL
4.1
Abandonment
At
any time before