Exhibit 10.2
 
WARRANT CERTIFICATE
 
SILLENGER EXPLORATION CORP.
Incorporated Under the Laws of the State of Nevada
 

NO. _______________    ______________ Common Shares 

                                                

Certificate for Common Stock
Purchase Warrants
 
UNLESS PERMITTED UNDER SECURITIES LEGISLATION, THE HOLDER OF THIS SECURITY MUST
NOT TRADE THE SECURITY BEFORE THE DATE THAT IS FOUR MONTHS AND A DAY AFTER THE
LATER OF (I) THE DISTRIBUTION DATE, AND (II) THE DATE THE ISSUER BECAME A
REPORTING ISSUER IN ANY PROVINCE OR TERRITORY.
 
“THE SECURITIES REPRESENTED HEREBY HAVE BEEN OFFERED IN AN OFFSHORE TRANSACTION
TO PERSONS WHO ARE NOT U.S. PERSONS (AS DEFINED HEREIN) PURSUANT TO REGULATION S
UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE “1933 ACT”).
NONE OF THE SECURITIES REPRESENTED HEREBY HAVE BEEN REGISTERED UNDER THE 1933
ACT, OR ANY U.S. STATE SECURITIES LAWS, AND, UNLESS SO REGISTERED, NONE MAY BE
OFFERED OR SOLD, DIRECTLY OR INDIRECTLY, IN THE UNITED STATES OR TO U.S. PERSONS
(AS DEFINED HEREIN) EXCEPT IN ACCORDANCE WITH THE PROVISIONS OF REGULATION S
UNDER THE 1933 ACT, PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE
1933 ACT, OR PURSUANT TO AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT
SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE 1933 ACT AND IN EACH CASE ONLY
IN ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS.  IN ADDITION, HEDGING
TRANSACTIONS INVOLVING THE SECURITIES MAY NOT BE CONDUCTED UNLESS IN COMPLIANCE
WITH THE 1933 ACT.

1.  This Warrant Certificate certifies that ______________________________, a(n)
__________________,  or registered assigns ("Warrant Holder"), is the registered
owner of the above-indicated number of Warrants expiring December 5, 2013
("Expiration Date").  One (1) Warrant entitles the Warrant Holder to purchase
one share of common stock, $0.001 par value ("Share"), from Sillenger
Exploration Corp., a Nevada corporation ("Company"), at a purchase price of U.S.
$0.10 per share of Common Stock ("Exercise Price"), commencing December 6, 2011,
and terminating on the Expiration Date ("Exercise Period"), upon surrender of
this Warrant Certificate with the exercise form hereon duly completed and
executed with payment of the Exercise Price at the offices of the Company, 277
Lakeshore Road, E., Suite 206, Oakville, Ontario, L6J 1H9, but only subject to
the conditions set forth herein.
 
 
 
 

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2.  Upon due presentment for transfer of this Warrant Certificate at the offices
of the Company, a new Warrant Certificate or Warrant Certificates of like tenor
and evidencing in the aggregate a like number of Warrants, subject to any
adjustments made in accordance with the provisions of this Warrant, shall be
issued to the transferee in exchange for this Warrant Certificate, subject to
the limitations provided in this Warrant.
 
3.  The Warrant Holder of the Warrants evidenced by this Warrant Certificate may
exercise all or any whole number of such Warrants during the period and in the
manner stated herein.  The Exercise Price shall be payable in lawful money of
the United States of America and in cash or by certified or bank cashier's check
or bank draft payable to the order of the Company.  If upon exercise of any
Warrants evidenced by this Warrant Certificate, the number of Warrants exercised
shall be less than the total number of Warrants so evidenced, there shall be
issued to the Warrant Holder a new Warrant Certificate evidencing the number of
Warrants not so exercised.
 
4. Restrictive Legend and Registration.
 
(a) Certificates representing shares of Common Stock issued pursuant to this
Warrant shall bear a legend substantially in the form of the legend set forth on
the first page of this Warrant Certificate to the extent that and for so long as
such legend is required pursuant to applicable law.
 
(b) The Company agrees to reissue these Warrants or certificates representing
any of the Warrant Shares, without the legend if at such time, prior to making
any transfer of any such securities, the Warrant Holder shall give written
notice to the Company upon the occurrence of: (a) either (i) the Company has
received an opinion of counsel reasonably satisfactory to the Company, to the
effect that the registration of such securities under the 1933 Act is not
required in connection with such proposed transfer, (ii) a registration
statement under the 1933 Act covering such proposed disposition has been filed
by the Company with the Securities and Exchange Commission and has become
effective under the 1933 Act and the Warrant Holder provides the Company’s
transfer agent with a written representation that a current prospectus has been
delivered to the purchaser at or before the time of the sale or transfer of the
Warrant Shares, (iii) the Company has received other evidence reasonably
satisfactory to the Company that such registration and qualification under the
1933 Act and state securities laws are not required, or (iv) the Holder provides
the Company with reasonable assurances that such security can be sold pursuant
to Rule 144 under the 1933 Act; and (b) either (i) the Company has received an
opinion of counsel reasonably satisfactory to the Company, to the effect that
registration or qualification under the securities or "blue sky" laws of any
 
 
 
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state is not required in connection with such proposed disposition, or (ii)
compliance with applicable state securities or "blue sky" laws has been effected
or a valid exemption exists with respect thereto. The Company will respond to
any such notice from a holder within three (3) business days. In the case of any
proposed transfer under this Section 3(b), the Company will use reasonable
efforts to comply with any such applicable state securities or "blue sky" laws,
but shall in no event be required, (x) to qualify to do business in any state
where it is not then qualified, (y) to take any action that would subject it to
tax or to the general service of process in any state where it is not then
subject, or (z) to comply with state securities or “blue sky” laws of any state
for which registration by coordination is unavailable to the Company. The
restrictions on transfer contained in this Section 4(b) shall be in addition to,
and not by way of limitation of, any other restrictions on transfer contained in
any other section of this Warrant Certificate. Whenever a certificate
representing the Warrant Shares is required to be issued to a the Holder without
a legend, in lieu of delivering physical certificates representing the Warrant
Shares, provided the Company’s transfer agent is participating in the DTC Fast
Automated Securities Transfer program, the Company shall use its reasonable best
efforts to cause its transfer agent to electronically transmit the Warrant
Shares to the Holder by crediting the account of the Holder's prime broker with
DTC through its DWAC system (to the extent not inconsistent with any provisions
of this Warrant or the Subscription Agreement).
 
5.  No Warrant may be exercised after 5:00 p.m. Eastern Time on the Expiration
Date and any Warrant not exercised by such time shall become void, unless the
Expiration Date of this Warrant is extended by the Company.
6.  After each adjustment of the Exercise Price pursuant to this paragraph 5,
the number of shares of Common Stock purchasable on the exercise of each Warrant
shall be the number derived by dividing such adjusted pertinent Exercise Price
into the original pertinent Exercise Price.  The pertinent Exercise Price shall
be subject to adjustment as follows:
 
In the event, prior to the expiration of the Warrants by exercise or by their
terms, the Company shall issue any shares of its Common Stock as a share
dividend or shall subdivide the number of outstanding shares of Common Stock
into a greater number of shares, then, in either of such events, the Exercise
Price per share of Common Stock purchasable pursuant to the Warrants in effect
at the time of such action shall be reduced proportionately and the number of
shares purchasable pursuant to the Warrants shall be increased proportionately.
Conversely, in the event the Company shall reduce the number of shares of its
outstanding Common Stock by combining such shares into a smaller number of
shares, then, in such event, the Exercise Price per share purchasable pursuant
to the Warrants in effect at the time of such action shall be increased
proportionately and the number of shares of Common Stock at that time
purchasable pursuant to the Warrants shall be decreased proportionately. Any
dividend paid or distributed on the Common Stock in shares of any other class of
the Company or securities convertible into shares of Common Stock shall be
treated as a dividend paid in Common Stock to the extent that shares of Common
Stock are issuable on the conversion thereof.
 
 
 
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7.  The Company agrees to include the shares underlying this Warrant Certificate
in the next Registration Statement that the Company files with the Securities
and Exchange Commission (SEC), if any.  If this Registration Statement is
declared effective by the SEC, the Company agrees to use its best efforts to
keep the Registration Statement effective until all warrants have been exercised
or the Expiration Date, whichever occurs first.  In the event that the
Registration Statement is not declared effective by the SEC for any reason,
including withdrawal of the Registration Statement by the Company, the Company
agrees to include these shares in the next Registration Statement filed by the
Company.
 
8.  Upon receipt by the Company of evidence satisfactory to it (in the exercise
of its reasonable discretion) of the loss, theft, destruction or mutilation of
this Warrant Certificate, and (in the case of loss, theft or destruction) of
reasonably satisfactory indemnification, and upon surrender and cancellation of
this Warrant Certificate, if mutilated, the Company shall execute and deliver a
new Warrant Certificate of like tenor and date.
 
9. Any notice, demand or delivery authorized by this Warrant Certificate shall
be in writing and shall be given to the Holder or the Company, as the case may
be, at its address (or telecopier number) set forth below, or such other address
(or telecopier number) as shall have been furnished to the party giving or
making such notice, demand or delivery:
 
If to the Company:
 
Sillenger Exploration Corp.
277 Lakeshore Road, E., Suite 206
Oakville, Ontario, L6J 1H9
Fax: (905) 842-9095
Attention: John Gillespie
 
with a copy to:
 
The Norman Law Firm PLLC
8720 Georgia Avenue, Suite 906
Silver Spring, MD 20910
Fax: (301) 588-4888
Attention: Elton F. Norman
 

 
If to the Warrant Holder:
 
Name:  ______________________
 
Address:______________________
 
_______________________
 
Fax:         _______________________
 

 
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Each such notice, demand or delivery shall be effective (i) if given by
telecopy, when such telecopy is transmitted to the telecopy number specified
herein and the intended recipient confirms the receipt of such telecopy or (ii)
if given by any other means, when received at the address specified herein.
 
10. Prior to exercise of any of these Warrants, the Warrant Holder shall not, by
virtue hereof, be entitled to any rights of a shareholder of the Company,
including, without limitation, the right to vote, to receive dividends or other
distributions, to exercise any preemptive right or any notice of any proceedings
of the Company except as may be specifically provided for herein.
 
11. This Warrant Certificate and all rights arising hereunder shall be construed
and determined in accordance with the internal laws of the Province of Ontario
and the Laws of Canada applicable therein, and the performance thereof shall be
governed and enforced in accordance with such laws.
 
12. Any provision of this Warrant Certificate may be amended or waived if, and
only if, such amendment or waiver is in writing and signed, in the case of an
amendment, by the Warrant Holder and the Company, or in the case of a waiver, by
the party against whom the waiver is to be effective. No failure or delay by
either party in exercising any right, power or privilege hereunder shall operate
as a waiver thereof nor shall any single or partial exercise thereof preclude
any other or further exercise thereof or the exercise of any other right, power
or privilege. The rights and remedies herein provided shall be cumulative and
not exclusive of any rights or remedies provided by law.
 
IN WITNESS WHEREOF, the Company has caused this Warrant to be signed by its
President and Chief Executive Officer.
 

Dated: December _____, 2011   Sillenger Exploration Corp.           
____________________________    John Gillespie, President and    Chief Executive
Officer 

 
 
 
 
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     The following abbreviations, when used in the inscription on the face of
this instrument, shall be construed as though they were written out in full
according to applicable laws or regulations:
 

TEN COM - as tenants in common    UNIF GIFT MIN ACT -  TEN ENT - as tenants by
the entireties  Custodian   -------------------------      JT TEN  - as joint
tenants with right   (Cust)    (Minor)         Of survivorship and not as  under
Uniform Gifts         Tenants in common  to Minors Act _______   
                         (State) 

 
Additional abbreviations may also be used though not in the above list.
FORM OF ASSIGNMENT
(To be executed by the Registered Holder if he
desires to assign Warrants evidenced by the
within Warrant Certificate)

     FOR VALUE RECEIVED, ________________________________ hereby sells, assigns
and transfers unto ______________________________ Warrants, evidenced by the
within Warrant Certificate, and does hereby irrevocably constitute and appoint
______________________ ______________ Attorney to transfer the said Warrants
evidenced by the within Warrant Certificate on the books of the Company, with
full power of substitution.

Dated:  _____________________                                                                    _________________________
                                                             Signature

NOTICE:  The above signature must correspond with the name as written upon
the face of the within Warrant Certificate in every particular,
without alteration or enlargement or any change whatsoever.

Signature Guaranteed:  __________________________________________

 
 
 
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FORM OF ELECTION TO PURCHASE

(To be executed by the Holder if he desires to
exercise Warrants evidenced by the within Warrant Certificate)

To Sillenger Exploration Corp.:
 
   The undersigned hereby irrevocably elects to exercise ____________  Warrants,
evidenced by the within Warrant Certificate for, and to purchase  thereunder,
________________ full shares of Common Stock issuable upon exercise  of said
Warrants and delivery of $____________ and any applicable taxes.

        The undersigned requests that certificates for such shares be issued in
the name of:

(Please print name and address):
______________________________________________________________

_______________________________________________________________

________________________________   _______________________________
                                                                             
 (Social Security or Tax ID #)

If said number of Warrants shall not be all the Warrants evidenced by the within
Warrant Certificate, the undersigned requests that a new Warrant Certificate
evidencing the Warrants not so exercised be issued in the name of and delivered
to:
 
_____________________________________________________________
_____________________________________________________________
                                                                 (Please print
name and address)

Dated: ____________________   Signature: ________________________
 
NOTICE: The above signature must correspond with the name as written upon
the face of the within Warrant Certificate in every particular,
without alteration or enlargement or any change whatsoever, or if signed by any
other person the Form of Assignment hereon must be duly executed and if the
certificate representing the shares or any Warrant Certificate representing
Warrants not exercised is to be registered in a name other than that in which
the within Warrant Certificate is
registered, the signature of the holder hereof must be guaranteed.
 
 
 
 
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Signature Guaranteed:  __________________________________________

IF NOT EXERCISED THROUGH THE COMPANY, SIGNATURE MUST BE GUARANTEED BY A
COMMERCIAL BANK OR MEMBER FIRM OF ONE OF THE FOLLOWING STOCK EXCHANGES: NEW YORK
STOCK EXCHANGE, PACIFIC COAST STOCKEXCHANGE, TORONTO STOCK EXCHANGE OR MIDWEST
STOCK EXCHANGE.

 

 

 
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