Common use of 2Capitalization Clause in Contracts

2Capitalization. (a) The authorized capital stock and other ownership interests of NVGT, a Nevada corporation, consists of 1,000,000,000 common shares of Common Stock, of which 49,989,704 were issued and outstanding as of September 8, 2021. NVGT has 700,000 shares of Preferred Stock authorized, with 700,000 issued and outstanding. All of the outstanding NVGT Common Stock and Preferred Stock have been duly authorized and are validly issued, fully paid and non-assessable. (b) Other than what has been described herein or in NVGT’s filings with OTC Markets, there are no outstanding or authorized options, warrants, purchase rights, preemptive rights or other contracts or commitments that could require NVGT to issue, sell, or otherwise cause to become outstanding any of its capital stock or other ownership interests (collectively “Options”). (c) All of the issued and outstanding shares of NVGT Common Stock have been duly authorized and are validly issued and outstanding, fully paid and non-assessable and have been issued in compliance with applicable securities laws and other applicable Legal Requirements or transfer restrictions under applicable securities laws.