VirExit Technologies Inc (VXIT)

[FatCatFenix]

They can’t sell for at least 180 days after the offering, so no… they cannot turnaround and immediately sell this placement offering as you say.

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Lock-Up Agreements

We and our officers, directors, and more than 5% stockholders have agreed, or will agree, with a Selling Agent, subject to certain exceptions, that, without the prior written consent of the Selling Agent, we and they will not, directly, or indirectly, during the period ending 180 days after the date of the Offering Circular.

? offer, pledge, sell, contract to sell, sell any option or contract to purchase, purchase any option or contract to sell, grant any option, right or warrant for the sale of, or otherwise dispose of or transfer any shares of the Common Stock or any securities convertible into or exchangeable or exercisable for the Common Stock, whether now owned or hereafter acquired by the undersigned or with respect to which the undersigned has or hereafter acquires the power of disposition; or

? enter into any swap or any other agreement or any transaction that transfers, in whole or in part, the economic consequence of ownership of the Common Stock, whether any such swap or transaction is to be settled by delivery of the Common Stock or other securities, in cash or otherwise.

This agreement does not apply, in our case, to securities issued pursuant to existing employee benefit plans or securities issued upon exercise of options, and other exceptions, and in the case of our officers, directors and other holders of our securities, exercise of stock options issued pursuant to a stock option or similar plans, and other exceptions.