EX-5.1 4 ea021656701ex5-1_china.htm OPINION OF CAMPBELLS LEGAL (BVI) LIMITED

Exhibit 5.1

  

 

 

 

 

China SXT Pharmaceuticals, Inc.

178 Taidong Road North, Taizhou

Jiangsu

People’s Republic of China

 

 

22 October 2024

Campbells Legal (BVI) Limited

Floor 4, Banco Popular Building

PO Box 4467

Road Town, Tortola VG-1110

British Virgin Islands

 

T +1 284 852 4823

E gwilliamson@campbellslegal.com

 

campbellslegal.com

 

Our Ref: 16578-43865

 

BVI | CAYMAN | HONG KONG 

 

Dear Sirs

 

Re: China SXT Pharmaceuticals, Inc. (the “Company”)

 

We have acted as British Virgin Islands counsel to the Company, a company limited by shares incorporated in the British Virgin Islands, and have been requested to provide this legal opinion in connection with the Company’s registration statement on Form F-3, including all amendments or supplements thereto, filed with the United States Securities and Exchange Commission (the “Commission”) under the United States Securities Act of 1933, as amended (the “Act”) on 22 October 2024 (the “Registration Statement”), relating to the offering and sale by the Company (the “Offering”) of ordinary shares, debt securities, warrants, units and rights to purchase ordinary shares, units and rights, such as shall have an aggregate offering price of up to US$120,000,000.  We are furnishing this opinion as Exhibit 5.1 to the Registration Statement

 

We are Attorneys-at-Law in the British Virgin Islands and express no opinion as to any laws other than the laws of the British Virgin Islands in force and as interpreted at the date hereof.

 

1Documents Reviewed

 

We have reviewed originals, copies, drafts or conformed copies of the following documents and such other documents or instruments as we deem necessary:

 

1.1the unanimous written resolutions of the directors of the Company dated 8 October 2024 (the “Resolutions”);

 

1.2a certified copy of the register of directors of the Company, dated 16 October 2024, issued by Sertus Incorporations (BVI) Limited, the Company’s registered agent (the “ROD”);

 

1.3a copy of the register of members of the Company, dated 11 October 2024, issued by Transhare Corp (together with the ROD, the “Registers”);

 

 

 

 

1.4the information revealed by our search of the Company’s public records on file and available for public inspection at the British Virgin Islands’ Registry of Corporate Affairs’ (the “Registry of Corporate Affairs”) at the time of our searches on 22 October 2024 including:

 

1.1the Company’s certificate of incorporation dated 4 July 2017; and

 

1.2the Company’s amended and restated memorandum and articles of association (the “Memorandum and Articles of Association”) dated 29 September 2023;

 

1.5the information revealed by our searches of the Company’s records of proceedings on file with and available for inspection at the British Virgin Islands High Court Registry at the time of our searches on 22 October 2024;

 

1.6a copy of the Certificate of Good Standing in respect of the Company, issued by the BVI Registrar of Corporate Affairs, dated 22 October 2024 (the “Certificate of Good Standing”); and

 

1.7a copy of the Registration Statement.

 

2Assumptions

 

The following opinions are given only as to, and based on, circumstances and matters of fact existing and known to us on the date of this opinion. This opinion only relates to the laws of the British Virgin Islands which are in force on the date of this opinion. In giving this opinion we have relied (without further verification) upon the completeness and accuracy of the factual confirmations contained in the Register’s and the Certificate of Good Standing. We have also relied upon the following assumptions, and the assumptions set out in Schedule 1 hereto, which we have not independently verified:

 

2.1copies of documents, conformed copies or drafts of documents provided to us are true and complete copies of, or in the final forms of, the originals, and translations of documents provided to us are complete and accurate;

 

2.2all signatures, initials and seals are genuine;

 

2.3there is nothing under any law (other than the laws of the British Virgin Islands) which would or might affect the opinions expressed herein;

 

2.4the Shares to be issued by the Company pursuant to the Registration Statement will be issued by the Company against payment in full, of the consideration, be duly registered in the Company’s register of members;

 

2.5the minute book and corporate records of the Company, whether maintained at its registered office in the British Virgin Islands or otherwise, which we have specifically not reviewed, do not disclose anything which would affect any opinion given herein;

 

2.6the Resolutions remain in full force and effect; and

 

2.7there is no contractual or other prohibition (other than as arising under British Virgin Islands law) binding on the Company prohibiting it from entering into and performing its obligations under the Purchase Agreement or the Registration Statement.

 

2

 

 

3Opinions

 

Based upon, and subject to, the foregoing assumptions and the qualifications set out below, and having regard to such legal considerations as we deem relevant, we are of the opinion that:

 

3.1The Company was incorporated in the British Virgin Islands under the BVI Business Companies Act on 4 July 2017, with company number 1949664, is a company limited by shares, is in good standing at the Registry of Corporate Affairs and is validly existing under the laws of the British Virgin Islands.

 

3.2The Company is authorised to issue an unlimited number of shares of one class with no par value each.

 

3.3When issued and paid for in the manner described in the the Registration Statement and in accordance with the Resolutions, the ordinary shares and the ordinary shares issuable pursuant to the debt securities, warrants, units and rights will be validly issued, fully paid and non-assessable. As a matter of British Virgin Islands law, a share is only issued when it has been entered in the register of members (or shareholders).

 

4Qualifications

 

Except as explicitly stated herein, we make no comment with respect to any representations and warranties which may be made by or with respect to the Company in any of the documents or instruments cited in this opinion or otherwise with respect to the commercial terms of the transactions the subject of this opinion.

 

In this opinion, the phrase “non-assessable” means, with respect to the Shares, that a shareholder shall not, solely by virtue of its status as a shareholder, be liable for additional assessments or calls on the Shares by the Company or its creditors (except in exceptional circumstances, such as involving fraud, the establishment of an agency relationship or an illegal or improper purpose or other circumstance in which a court may be prepared to pierce or lift the corporate veil).

 

To maintain the Company in good standing under the laws of the British Virgin Islands, annual filing fees must be paid to, and a copy of the Company’s register of directors filed with, the Registry of Corporate Affairs.

 

This opinion is provided solely for your benefit and use and may not be quoted in whole or in part or otherwise referred to or filed with any government agency or any other person without our prior express written consent, and no person other than the Company is entitled to rely on this opinion. Notwithstanding the foregoing, we hereby consent to filing of this opinion as an exhibit to the Registration Statement and to the reference to our name in the Registration Statement. In giving our consent, we do not thereby admit that we are in the category of persons whose consent is required under Section 7 of the Act or the rules and regulations of the Commission thereunder.

 

This opinion is limited to the matters details herein and is not to be read as an opinion with respect to any other matter.

 

Yours faithfully

 

/s/ Campbells Legal (BVI) Limited

 

Campbells Legal (BVI) Limited

  

3