As of June 29, 2020, Black Cactus Global, Inc. (the ‘Company’) and Charteris, Mackie, Baillie and Cummins Limited (‘CMBC’) entered into a waiver and agreement (the ‘Waiver Agreement’), pursuant to which the Company and CMBC agreed to close the following two pending licensing arrangements: (1) a non-exclusive license for a blockchain development software platform and related intellectual property pursuant to a Software License Agreement (the ‘License Agreement’), dated August 24, 2019, between the Company and CMBC, and (2) an assignment of a non-exclusive software license for certain software and intellectual property licensed by CMBC to Benchmark Advisors Limited (‘Benchmark’) pursuant to an Assignment Agreement, dated November 15, 2019, between the Company, and CMBC and Benchmark (the ‘Benchmark Assignment’ and together with the License Agreement, the ‘CMBC License Agreements’). Jeremy Towning notified the company that, effective as of June 29, 2020, he was resigning from his position as the company’s Chief Executive. Mr. Towning continues to serve as the Chief Financial Officer of the Company and as a member of the Company’s board of directors (the ‘Board’) In connection with the closing of the License Agreement, effective as of June 29, 2020, and the terms of the Waiver Agreement, the Board, pursuant to its powers under the Company’s bylaws, appointed Lawrence P. Cummins, as Chief Executive Officer. Lawrence P. Cummins will serve as Chief Executive Officer of the company until his successor has been appointed by the Board and duly qualified or until his death, resignation or removal. Lawrence P. Cummins will perform the services and duties that are normally and customarily associated with the Chief Executive Officer position, as well as other duties as the Board reasonably determines. In 2015, Lawrence P. Cummins joined Black Cactus Holdings Pty Ltd. as a director. In 2017, Lawrence P. Cummins joined Black Cactus Holdings LLC as a director. From December 2017 to April 2018, Lawrence P. Cummins was Chief Executive Officer and a director of the Company. His primary focus at the Company was to build a customer base for software technology. He left the Company in April 2018 to pursue consultancy opportunities through his equity interest in CMBC.