Exhibit 10.3


 


EQUITY PURCHASE AGREEMENT


 


This equity purchase
agreement is entered into as of January 12, 2018 (this “Agreement”), by and between Digerati Technologies, Inc.,
a Nevada corporation (the “Company”), and Peak One Opportunity Fund, L.P., a Delaware limited partnership (the
“Investor”).


 


WHEREAS, the
parties desire that, upon the terms and subject to the conditions contained herein, the Company shall issue and sell to the Investor,
from time to time as provided herein, and the Investor shall purchase up to Five Million Dollars ($5,000,000.00) of the Company’s
Common Stock (as defined below);


 


NOW, THEREFORE, the parties hereto agree as
follows:


 


ARTICLE I


CERTAIN DEFINITIONS


 


Section 1.1 DEFINED
TERMS. As used in this Agreement, the following terms shall have the following meanings specified or indicated (such meanings
to be equally applicable to both the singular and plural forms of the terms defined):


 


“Agreement” shall have the meaning
specified in the preamble hereof.


 


“Average
Daily Trading Value” shall mean the average trading volume of the Company’s Common Stock in the ten (10) Trading
Days immediately preceding the respective Put Date multiplied by the lowest closing price of the Company’s Common Stock in
the ten (10) Trading Days immediately preceding the respective Put Date.


 


“Bankruptcy
Law” means Title 11, U.S. Code, or any similar federal or state law for the relief of debtors.


 


“Claim Notice” shall have the meaning
specified in Section 9.3(a).


 


“Clearing
Costs” shall mean all of the Investor’s brokerage firm, clearing firm, and Transfer Agent fees, excluding commissions.


 


“Clearing
Date” shall be the date on which the Investor receives the Put Shares in its brokerage account.


 


“Closing”
shall mean one of the closings of a purchase and sale of shares of Common Stock pursuant to Section 2.3.


 


“Closing Certificate”
shall mean the closing certificate of the Company in the form of Exhibit B hereto.


 






      

     


    

 


“Closing Date” shall mean the
date of any Closing hereunder.


 


“Commitment
Shares” shall mean the 250,000 shares of the Company’s common stock as a commitment fee hereunder, issued to the
Investor or Investor’s designee.


 


“Commitment
Period” shall mean the period commencing on the Execution Date, and ending on the earlier of (i) the date on which the
Investor shall have purchased Put Shares pursuant to this Agreement equal to the Maximum Commitment Amount, (ii) 24 months after
the initial effectiveness of the Registration Statement, (iii) written notice of termination by the Company to the Investor (which
shall not occur during any Valuation Period or at any time that the Investor holds any of the Put Shares), (iv) the Registration
Statement is no longer effective, or (v) the date that, pursuant to or within the meaning of any Bankruptcy Law, the Company commences
a voluntary case or any Person commences a proceeding against the Company, a Custodian is appointed for the Company or for all
or substantially all of its property or the Company makes a general assignment for the benefit of its creditors; provided, however,
that the provisions of Articles III, IV, V, VI, IX and the agreements and covenants of the Company and the Investor set forth in
Article X shall survive the termination of this Agreement.


 


“Common Stock”
shall mean the Company’s common stock, $0.001 par value per share, and any shares of any other class of common stock whether now
or hereafter authorized, having the right to participate in the distribution of dividends (as and when declared) and assets (upon
liquidation of the Company).


 


“Common Stock
Equivalents” means any securities of the Company or the Subsidiaries which would entitle the holder thereof to acquire
at any time Common Stock, including, without limitation, any debt, preferred stock, right, option, warrant or other instrument
that is at any time convertible into or exercisable or exchangeable for, or otherwise entitles the holder thereof to receive, Common
Stock.


 


“Company” shall have the meaning
specified in the preamble to this Agreement.


 


“Custodian”
means any receiver, trustee, assignee, liquidator or similar official under any Bankruptcy Law.


 


“Damages”
shall mean any loss, claim, damage, liability, cost and expense (including, without limitation, reasonable attorneys’ fees and
disbursements and costs and expenses of expert witnesses and investigation).


 


“Dispute Period” shall have the
meaning specified in Section 9.3(a).


 


“DTC”
shall mean The Depository Trust Company, or any successor performing substantially the same function for the Company.


 


“DTC/FAST Program” shall mean the DTC’s
Fast Automated Securities Transfer Program.


 






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“DWAC” shall mean Deposit Withdrawal
at Custodian as defined by the DTC.


 


“DWAC Eligible”
shall mean that (a) the Common Stock is eligible at DTC for full services pursuant to DTC’s Operational Arrangements, including,
without limitation, transfer through DTC’s DWAC system, (b) the Company has been approved (without revocation) by the DTC’s
underwriting department, (c) the Transfer Agent is approved as an agent in the DTC/FAST Program, (d) the Commitment Shares or Put
Shares, as applicable, are otherwise eligible for delivery via DWAC, and (e) the Transfer Agent does not have a policy prohibiting
or limiting delivery of the Commitment Shares or Put Shares, as applicable, via DWAC.


 


“DWAC Shares”
means shares of Common Stock that are (i) issued in electronic form, (ii) freely tradable and transferable and without restriction
on resale and (iii) timely credited by the Company to the Investor’s or its designee’s specified DWAC account with
DTC under the DTC/FAST Program, or any similar program hereafter adopted by DTC performing substantially the same function.


 


“Exchange Act”
shall mean the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder.


 


“Exchange Cap” shall have the
meaning set forth in Section 7.1(c).


 


“Execution Date” shall mean the date of this Agreement.


 


“FINRA” shall mean the Financial
Industry Regulatory Authority, Inc.


 


“Investment
Amount” shall mean the Put Shares referenced in the Put Notice multiplied by the Purchase Price minus the Clearing Costs.


 


“Indemnified Party” shall have
the meaning specified in Section 9.2.


 


“Indemnifying Party” shall have the meaning specified in Section 9.2.


 


“Indemnity
Notice” shall have the meaning specified in Section 9.3(e).


 


“Initial Purchase
Price” shall mean 88% of the lowest closing bid price of the Company’s Common Stock in the ten (10) Trading Days
immediately preceding the respective Put Date.


 


“Investor” shall have the meaning
specified in the preamble to this Agreement.


 


“Lien”
means a lien, charge, pledge, security interest, encumbrance, right of first refusal, preemptive right or other restriction.


 


“Market
Price” shall mean the lesser of the (i) lowest closing bid price of the Common Stock on the Principal Market for
any Trading Day during the ten (10) Trading Days immediately preceding the respective Put Date, or (ii) lowest closing bid
price of the Common Stock on the Principal Market for any Trading Day during the Valuation Period.


 






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“Material
Adverse Effect” shall mean any effect on the business, operations, properties, or financial condition of the Company and
the Subsidiaries that is material and adverse to the Company and the Subsidiaries and/or any condition, circumstance, or situation
that would prohibit or otherwise materially interfere with the ability of the Company to enter into and perform its obligations
under any Transaction Document.


 


“Maximum Commitment
Amount” shall mean Five Million Dollars ($5,000,000.00).


 


“Person”
shall mean an individual, a corporation, a partnership, an association, a trust or other entity or organization, including a government
or political subdivision or an agency or instrumentality thereof.


 


“Principal
Market” shall mean any of the national exchanges (i.e. NYSE, NYSE AMEX, Nasdaq), or principal quotation systems (i.e.
OTCQX, OTCQB, OTC Pink, the OTC Bulletin Board), or other principal exchange or recognized quotation system which is at the time
the principal trading platform or market for the Common Stock.


 


“Purchase
Price” shall mean 88% of the Market Price on such date on which the Purchase Price is calculated in accordance with the
terms and conditions of this Agreement.


 


“Put”
shall mean the right of the Company to require the Investor to purchase shares of Common Stock, subject to the terms and conditions
of this Agreement.


 


“Put Date”
shall mean any Trading Day during the Commitment Period that a Put Notice is deemed delivered pursuant to Section 2.2(b).


 


“Put
Notice” shall mean a written notice, substantially in the form of Exhibit A hereto, to Investor setting
forth the Put Shares which the Company intends to require Investor to purchase pursuant to the terms of this Agreement.


 


“Put Shares”
shall mean all shares of Common Stock issued, or that the Company shall be entitled to issue, per any applicable Put Notice in
accordance with the terms and conditions of this Agreement.


 


“Registration Statement” shall
have the meaning specified in Section 6.4.


 


“Regulation D” shall mean Regulation D promulgated under the Securities
Act.


 


“Required
Minimum” shall mean, as of any date, the maximum aggregate number of shares of Common Stock then issued or potentially
issuable in the future pursuant to the Transaction Documents, including any Commitment Shares.


 






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“Rule
144” shall mean Rule 144 under the Securities Act or any similar provision then in force under the Securities Act.


 


“SEC” shall mean the United
States Securities and Exchange Commission.


 


“SEC Documents” shall have the meaning specified in Section 4.5.


 


“Securities” means, collectively, the Put Shares and Commitment Shares.


 


“Securities Act” shall
mean the Securities Act of 1933, as amended.


 


“Short
Sales” shall mean all “short sales” as defined in Rule 200 of Regulation SHO under the Exchange Act.


 


“Subsidiary”
means any Person the Company wholly-owns or controls, or in which the Company, directly or indirectly, owns a majority of the voting
stock or similar voting interest, in each case that would be disclosable pursuant to Item 601(b)(21) of Regulation S-K promulgated
under the Securities Act.


 


“Third Party Claim” shall have the
meaning specified in Section 9.3(a).


 


“Trading Day” shall
mean a day on which the Principal Market shall be open for business.


 


“Transaction
Documents” shall mean this Agreement, the registration rights agreement of even date, and all schedules and exhibits
hereto and thereto.


 


“Transfer
Agent” shall mean American Stock Transfer & Trust Company, the current transfer agent of the Company, with a mailing
address of 6201 15th Avenue, Brooklyn, NY 11219, and any successor transfer agent of the Company.


 


“Valuation
Period” shall mean the period of seven (7) Trading Days immediately following the Clearing Date associated with the applicable
Put Notice during which the Purchase Price of the Common Stock is valued. The Investor shall notify the Company in writing of the
occurrence of the Clearing Date associated with a Put Notice. The Valuation Period shall begin on the first Trading Day following
the Clearing Date.


 


ARTICLE II


PURCHASE AND SALE OF COMMON
STOCK


 


Section 2.1 PUTS. Upon the terms and
conditions set forth herein (including, without limitation, the provisions of Article VII), the Company shall have the right,
but not the obligation, to direct the Investor, by its delivery to the Investor of a Put Notice from time to time, to
purchase Put Shares (i) in a minimum amount not less than $20,000.00 and (ii) in a maximum amount up to the lesser of (a)
$250,000.00 or (b) 250% of the Average Daily Trading Value.


 






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Section 2.2 MECHANICS.


 


(a) PUT NOTICE.
At any time and from time to time during the Commitment Period, except during the Valuation Period with respect to any Put, the
Company may deliver a Put Notice to Investor, subject to satisfaction of the conditions set forth in Section 7.2 and otherwise
provided herein. The initial price per share identified in the respective Put Notice shall be equal to the Initial Purchase Price,
subject to adjustment during the Valuation Period as provided in this Agreement. The Company shall deliver, or cause to be delivered,
the Put Shares as DWAC Shares to the Investor within two (2) Trading Days following the Put Date.


 


(b) DATE OF DELIVERY
OF PUT NOTICE. A Put Notice shall be deemed delivered on (i) the Trading Day it is received by email by the Investor if such
notice is received on or prior to 9:00 a.m. New York time or (ii) the immediately succeeding Trading Day if it is received by
email after 9:00 a.m. New York time on a Trading Day or at any time on a day which is not a Trading Day.


 


Section 2.3 CLOSINGS. At the end of the
Valuation Period, the Purchase Price for the respective Put Shares shall be established as provided in this Agreement. If the
value of the Put Shares delivered to the Investor causes the Company to exceed the Maximum Commitment Amount, then
immediately after the Valuation Period the Investor shall return to the Company the surplus amount of Put Shares associated
with such Put and the Purchase Price with respect to such Put shall be reduced by any Clearing Costs related to the return of
such Put Shares. The Closing of a Put shall occur within three (3) Trading Days following the end of the Valuation Period,
whereby the Investor shall deliver the Investment Amount by wire transfer of immediately available funds to an account
designated by the Company.


 


ARTICLE III


REPRESENTATIONS AND WARRANTIES OF INVESTOR


 


The Investor represents and warrants to the Company
that:


 


Section 3.1 INTENT. The Investor is
entering into this Agreement for its own account and the Investor has no present arrangement (whether or not legally binding)
at any time to sell the Securities to or through any Person in violation of the Securities Act or any applicable state
securities laws; provided, however, that the Investor reserves the right to dispose of the Securities at any time in
accordance with federal and state securities laws applicable to such disposition.


 


Section 3.2 NO LEGAL ADVICE FROM THE
COMPANY. The Investor acknowledges that it has had the opportunity to review this Agreement and the transactions
contemplated by this Agreement with its own legal counsel and investment and tax advisors. The Investor is relying solely on
such counsel and advisors and not on any statements or representations of the Company or any of its representatives or agents
for legal, tax or investment advice with respect to this investment, the transactions contemplated by this Agreement or the
securities laws of any jurisdiction.


 






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Section 3.3 ACCREDITED INVESTOR. The
Investor is an accredited investor as defined in Rule 501(a)(3) of Regulation D, and the Investor has such experience in
business and financial matters that it is capable of evaluating the merits and risks of an investment in the Securities. The
Investor acknowledges that an investment in the Securities is speculative and involves a high degree of risk.


 


Section 3.4 AUTHORITY. The Investor has
the requisite power and authority to enter into and perform its obligations under this Agreement and the other Transaction
Documents and to consummate the transactions contemplated hereby and thereby. The execution and delivery of this Agreement
and the other Transaction Documents and the consummation by it of the transactions contemplated hereby and thereby have been
duly authorized by all necessary action and no further consent or authorization of the Investor is required. Each Transaction
Document to which it is a party has been duly executed by the Investor, and when delivered by the Investor in accordance with
the terms hereof, will constitute the valid and binding obligation of the Investor enforceable against it in accordance with
its terms, subject to applicable bankruptcy, insolvency, or similar laws relating to, or affecting generally the enforcement
of, creditors’ rights and remedies or by other equitable principles of general application.


 


Section 3.5 NOT AN AFFILIATE. The
Investor is not an officer, director or “affiliate” (as that term is defined in Rule 405 of the Securities Act)
of the Company.


 


Section 3.6 ORGANIZATION AND STANDING.
The Investor is an entity duly incorporated or formed, validly existing and in good standing under the laws of the
jurisdiction of its incorporation or formation with full right, corporate, partnership, limited liability company or similar
power and authority to enter into and to consummate the transactions contemplated by this Agreement and the other Transaction
Documents.


 


Section 3.7 ABSENCE OF CONFLICTS. The
execution and delivery of this Agreement and the other Transaction Documents, and the consummation of the transactions
contemplated hereby and thereby and compliance with the requirements hereof and thereof, will not (a) violate any law, rule,
regulation, order, writ, judgment, injunction, decree or award binding on the Investor, (b) violate any provision of any
indenture, instrument or agreement to which the Investor is a party or is subject, or by which the Investor or any of its
assets is bound, or conflict with or constitute a material default thereunder, (c) result in the creation or imposition of
any lien pursuant to the terms of any such indenture, instrument or agreement, or constitute a breach of any fiduciary duty
owed by the Investor to any third party, or (d) require the approval of any third-party (that has not been obtained) pursuant
to any material contract, instrument, agreement, relationship or legal obligation to which the Investor is subject or to
which any of its assets, operations or management may be subject.


 






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Section 3.8 DISCLOSURE; ACCESS TO
INFORMATION. The Investor had an opportunity to review copies of the SEC Documents filed on behalf of the Company and has
had access to all publicly available information with respect to the Company.


 


Section 3.9 MANNER OF SALE. At no time
was the Investor presented with or solicited by or through any leaflet, public promotional meeting, television advertisement
or any other form of general solicitation or advertising.


 


ARTICLE IV


REPRESENTATIONS AND WARRANTIES OF THE
COMPANY


 


The Company represents
and warrants to the Investor that, except as disclosed in the SEC Documents or except as set forth in the disclosure schedules
hereto:


 


Section 4.1 ORGANIZATION OF THE COMPANY.
The Company and each of the Subsidiaries is an entity duly incorporated or otherwise organized, validly existing and in good
standing under the laws of the jurisdiction of its incorporation or organization, with the requisite power and authority to
own and use its properties and assets and to carry on its business as currently conducted. Neither the Company nor any
Subsidiary is in violation nor default of any of the provisions of its respective certificate or articles of incorporation,
bylaws or other organizational or charter documents. Each of the Company and the Subsidiaries is duly qualified to conduct
business and is in good standing as a foreign corporation or other entity in each jurisdiction in which the nature of the
business conducted or property owned by it makes such qualification necessary, except where the failure to be so qualified or
in good standing, as the case may be, could not have or reasonably be expected to result in a Material Adverse Effect and no
proceeding has been instituted in any such jurisdiction revoking, limiting or curtailing or seeking to revoke, limit or
curtail such power and authority or qualification.


 


Section 4.2 AUTHORITY. The Company has
the requisite corporate power and authority to enter into and perform its obligations under this Agreement and the other
Transaction Documents. The execution and delivery of this Agreement and the other Transaction Documents by the Company and
the consummation by it of the transactions contemplated hereby and thereby have been duly authorized by all necessary
corporate action and no further consent or authorization of the Company or its Board of Directors or stockholders is
required. Each of this Agreement and the other Transaction Documents has been duly executed and delivered by the Company and
constitutes a valid and binding obligation of the Company enforceable against the Company in accordance with its terms,
except as such enforceability may be limited by applicable bankruptcy, insolvency, or similar laws relating to, or affecting
generally the enforcement of, creditors’ rights and remedies or by other equitable principles of general
application.


 






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Section 4.3 CAPITALIZATION. Except as
disclosed in the SEC Documents (as defined herein), the Company has not issued any capital stock since its most recently
filed periodic report under the Exchange Act, other than pursuant to the exercise of employee stock options under the
Company’s stock option plans, the issuance of shares of Common Stock to employees pursuant to the Company’s
employee stock purchase plans and pursuant to the conversion and/or exercise of Common Stock Equivalents outstanding as of
the date of the most recently filed periodic report under the Exchange Act. No Person has any right of first refusal,
preemptive right, right of participation, or any similar right to participate in the transactions contemplated by the
Transaction Documents. Except as set forth in the SEC Documents and except as a result of the purchase and sale of the
Securities, there are no outstanding options, warrants, scrip rights to subscribe to, calls or commitments of any character
whatsoever relating to, or securities, rights or obligations convertible into or exercisable or exchangeable for, or giving
any Person any right to subscribe for or acquire any shares of Common Stock, or contracts, commitments, understandings or
arrangements by which the Company or any Subsidiary is or may become bound to issue additional shares of Common Stock or
Common Stock Equivalents. The issuance and sale of the Securities will not obligate the Company to issue shares of
Common Stock or other securities to any Person (other than the Investor) and will not result in a right of any holder of
Company securities to adjust the exercise, conversion, exchange or reset price under any of such securities. There are no
stockholders agreements, voting agreements or other similar agreements with respect to the Company’s capital stock to
which the Company is a party or, to the knowledge of the Company, between or among any of the Company’s
stockholders.


 


Section 4.4 LISTING AND MAINTENANCE
REQUIREMENTS. The Common Stock is registered pursuant to Section 12(b) or 12(g) of the Exchange Act, and the Company has
taken no action designed to, or which to its knowledge is likely to have the effect of, terminating the registration of the
Common Stock under the Exchange Act nor has the Company received any notification that the SEC is contemplating terminating
such registration. The Company has not, in the twelve (12) months preceding the date hereof, received notice from the
Principal Market on which the Common Stock is or has been listed or quoted that has not been cured to the effect that the
Company is not in compliance with the listing or maintenance requirements of such Principal Market. The Company is, and has
no reason to believe that it will not in the foreseeable future continue to be, in compliance with all such listing and
maintenance requirements.


 


Section 4.5 SEC DOCUMENTS; DISCLOSURE.
The Company has filed all reports, schedules, forms, statements and other documents required to be filed by the Company under
the Securities Act and the Exchange Act, including pursuant to Section 13(a) or 15(d) thereof, for the one (1) year preceding
the date hereof (or such shorter period as the Company was required by law or regulation to file such material) (the
foregoing materials, including the exhibits thereto and documents incorporated by reference therein, being collectively
referred to herein as the “SEC Documents”) on a timely basis or has received a valid extension of such
time of filing and has filed any such SEC Documents prior to the expiration of any such extension. As of their respective
dates, the SEC Documents complied in all material respects with the requirements of the Securities Act and the Exchange Act,
as applicable, and other federal laws, rules and regulations applicable to such SEC Documents, and none of the SEC Documents
when filed contained any untrue statement of a material fact or omitted to state a material fact required to be stated
therein or necessary in order to make the statements therein, in light of the circumstances under which they were made, not
misleading. The financial statements of the Company included in the SEC Documents comply as to form and substance in all
material respects with applicable accounting requirements and the published rules and regulations of the SEC or other
applicable rules and regulations with respect thereto. Such financial statements have been prepared in accordance with
generally accepted accounting principles applied on a consistent basis during the periods involved (except (a) as may
be otherwise indicated in such financial statements or the notes thereto or (b) in the case of unaudited interim statements,
to the extent they may not include footnotes or may be condensed or summary statements) and fairly present in all material
respects the financial position of the Company as of the dates thereof and the results of operations and cash flows for the
periods then ended (subject, in the case of unaudited statements, to normal, immaterial, year-end audit adjustments). Except
with respect to the material terms and conditions of the transactions contemplated by the Transaction Documents, the Company
confirms that neither it nor any other Person acting on its behalf has provided the Investor or its agents or counsel with
any information that it believes constitutes or might constitute material, non-public information. The Company understands
and confirms that the Investor will rely on the foregoing representation in effecting transactions in securities of the
Company.


 






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Section 4.6 VALID ISSUANCES. The
Securities are duly authorized and, when issued and paid for in accordance with the applicable Transaction Documents, will be
duly and validly issued, fully paid, and non-assessable, free and clear of all Liens imposed by the Company other than
restrictions on transfer provided for in the Transaction Documents.


 


Section 4.7 NO CONFLICTS. The
execution, delivery and performance of this Agreement and the other Transaction Documents by the Company and the consummation
by the Company of the transactions contemplated hereby and thereby, including, without limitation, the issuance of the Put
Shares and the Commitment Shares, do not and will not: (a) result in a violation of the Company’s or any
Subsidiary’s certificate or articles of incorporation, by-laws or other organizational or charter documents, (b)
conflict with, or constitute a material default (or an event that with notice or lapse of time or both would become a
material default) under, result in the creation of any Lien upon any of the properties or assets of the Company or any
Subsidiary, or give to others any rights of termination, amendment, acceleration or cancellation of, any agreement,
indenture, instrument or any “lock-up” or similar provision of any underwriting or similar agreement to which the
Company or any Subsidiary is a party, or (c) result in a violation of any federal, state or local law, rule, regulation,
order, judgment or decree (including federal and state securities laws and regulations) applicable to the Company or any
Subsidiary or by which any property or asset of the Company or any Subsidiary is bound or affected (except for such
conflicts, defaults, terminations, amendments, accelerations, cancellations and violations as would not, individually or in
the aggregate, have a Material Adverse Effect) nor is the Company otherwise in violation of, conflict with or in
default under any of the foregoing. The business of the Company is not being conducted in violation of any law, ordinance or
regulation of any governmental entity, except for possible violations that either singly or in the aggregate do not and will
not have a Material Adverse Effect. The Company is not required under federal, state or local law, rule or regulation to
obtain any consent, authorization or order of, or make any filing or registration with, any court or governmental agency in
order for it to execute, deliver or perform any of its obligations under this Agreement or the other Transaction Documents
(other than any SEC, FINRA or state securities filings that may be required to be made by the Company subsequent to any
Closing or any registration statement that may be filed pursuant hereto); provided that, for purposes of the representation
made in this sentence, the Company is assuming and relying upon the accuracy of the relevant representations and agreements
of Investor herein.


 






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Section 4.8 NO MATERIAL ADVERSE CHANGE.
No event has occurred that would have a Material Adverse Effect on the Company that has not been disclosed in subsequent SEC
filings.


 


Section 4.9 LITIGATION AND OTHER
PROCEEDINGS. Except as disclosed in the SEC Documents, there are no actions, suits, investigations, inquiries or
proceedings pending or, to the knowledge of the Company, threatened against or affecting the Company, any Subsidiary or any
of their respective properties, nor has the Company received any written or oral notice of any such action, suit, proceeding,
inquiry or investigation, which would have a Material Adverse Effect. No judgment, order, writ, injunction or decree or award
has been issued by or, to the knowledge of the Company, requested of any court, arbitrator or governmental agency which would
have a Material Adverse Effect. There has not been, and to the knowledge of the Company, there is not pending or
contemplated, any investigation by the SEC involving the Company, any Subsidiary or any current or former director or officer
of the Company or any Subsidiary.


 


Section 4.10 REGISTRATION RIGHTS.
Except as set forth in the SEC Documents, no Person (other than the Investor) has any right to cause the Company to effect
the registration under the Securities Act of any securities of the Company or any Subsidiary.


 


ARTICLE V


COVENANTS OF INVESTOR


 


Section 5.1 COMPLIANCE WITH LAW; TRADING IN
SECURITIES. The Investor’s trading activities with respect to shares of Common Stock will be in compliance with all
applicable state and federal securities laws and regulations and the rules and regulations of FINRA and the Principal
Market.


 


Section 5.2 SHORT SALES AND
CONFIDENTIALITY. Neither the Investor, nor any affiliate of the Investor acting on its behalf or pursuant to any
understanding with it, will execute any Short Sales during the period from the date hereof to the end of the Commitment
Period. For the purposes hereof, and in accordance with Regulation SHO, the sale after delivery of a Put Notice of such
number of shares of Common Stock reasonably expected to be purchased under a Put Notice shall not be deemed a Short Sale. The
Investor shall, until such time as the transactions contemplated by this Agreement are publicly disclosed by the Company in
accordance with the terms of this Agreement, maintain the confidentiality of the existence and terms of this transaction and
the information included in the Transaction Documents.


 






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ARTICLE VI


COVENANTS OF THE COMPANY


 


Section 6.1 [Intentionally Omitted.]


 


Section 6.2 LISTING OF COMMON STOCK.
The Company shall promptly secure the listing of all of the Put Shares and Commitment Shares to be issued to the Investor
hereunder on the Principal Market (subject to official notice of issuance) and shall use commercially reasonable best efforts
to maintain, so long as any shares of Common Stock shall be so listed, the listing of all such Put Shares and Commitment
Shares from time to time issuable hereunder. The Company shall use its commercially reasonable efforts to continue the
listing and trading of the Common Stock on the Principal Market (including, without limitation, maintaining sufficient net
tangible assets) and will comply in all respects with the Company’s reporting, filing and other obligations under the
bylaws or rules of FINRA and the Principal Market.


 


Section 6.3 OTHER EQUITY LINES. So long
as this Agreement remains in effect, the Company covenants and agrees that it will not, without the prior written consent of
the Investor, enter into any other equity line agreement with any other party. For the avoidance of doubt, nothing contained
in the Transaction Documents shall restrict, or require the Investor’s consent for, any agreement providing for the
issuance or distribution of any equity securities of the Company pursuant to any agreement or arrangement that is not covered
in this Section 6.3.


 


Section 6.4 FILING OF CURRENT REPORT AND REGISTRATION
STATEMENT. The Company agrees that it shall file a Current Report on Form 8-K, including the Transaction Documents as exhibits
thereto, with the SEC within the time required by the Exchange Act, relating to the transactions contemplated by, and describing
the material terms and conditions of, the Transaction Documents (the “Current Report”). The Company shall use
best efforts to permit the Investor to review and comment upon the final pre-filing draft version of the Current Report at least
one (1) Trading Day prior to its filing with the SEC, and the Company shall give reasonable consideration to all such comments.
The Investor shall use its reasonable best efforts to comment upon the final pre-filing draft version of the Current Report within
one (1) Trading Day from the date the Investor receives it from the Company. The Company shall also file with the SEC, within
thirty (30) calendar days from the date hereof, a new registration statement (the “Registration Statement”)
covering only the resale of the Put Shares and the Commitment Shares. The Company shall use its reasonable best efforts to have
the Registration Statement declared effective by the SEC within ninety (90) calendar days from the date hereof (or at the earliest
possible date if prior to ninety (90) calendar days from the date hereof).


 






    	 	12	 



     


    

 


ARTICLE VII


CONDITIONS TO DELIVERY OF


PUT NOTICES AND CONDITIONS TO CLOSING


 


Section 7.1 CONDITIONS PRECEDENT TO THE
RIGHT OF THE COMPANY TO ISSUE AND SELL PUT SHARES. The right of the Company to issue and sell the Put Shares to the
Investor is subject to the satisfaction of each of the conditions set forth below:


 


(a) ACCURACY
OF INVESTOR’S REPRESENTATIONS AND WARRANTIES. The representations and warranties of the Investor shall be true and
correct in all material respects as of the date of this Agreement and as of the date of each Closing as though made at each
such time.


 


(b) PERFORMANCE
BY INVESTOR. Investor shall have performed, satisfied and complied in all respects with all covenants, agreements and conditions
required by this Agreement to be performed, satisfied or complied with by the Investor at or prior to such Closing.


 


(c) PRINCIPAL
MARKET REGULATION. The Company shall not issue any Put Shares, and the Investor shall not have the right to receive any Put
Shares, if the issuance of such Put Shares would exceed the aggregate number of shares of Common Stock which the Company may issue
without breaching the Company’s obligations under the rules or regulations of the Principal Market (the “Exchange
Cap”).


 


Section 7.2 CONDITIONS PRECEDENT TO THE
OBLIGATION OF INVESTOR TO PURCHASE PUT SHARES. The obligation of the Investor hereunder to purchase Put Shares is subject
to the satisfaction of each of the following conditions:


 


(a) EFFECTIVE REGISTRATION
STATEMENT. The Registration Statement, and any amendment or supplement thereto, shall remain effective for the resale by the
Investor of the Put Shares and the Commitment Shares and (i) neither the Company nor the Investor shall have received notice that
the SEC has issued or intends to issue a stop order with respect to such Registration Statement or that the SEC otherwise has
suspended or withdrawn the effectiveness of such Registration Statement, either temporarily or permanently, or intends or has
threatened to do so and (ii) no other suspension of the use of, or withdrawal of the effectiveness of, such Registration Statement
or related prospectus shall exist.


 


(b) ACCURACY OF
THE COMPANY’S REPRESENTATIONS AND WARRANTIES. The representations and warranties of the Company shall be true and correct
in all material respects as of the date of this Agreement and as of the date of each Closing (except for representations and warranties
specifically made as of a particular date).


 


(c) PERFORMANCE
BY THE COMPANY. The Company shall have performed, satisfied and complied in all material respects with all covenants, agreements
and conditions required by this Agreement to be performed, satisfied or complied with by the Company.


 






    	 	13	 



     


    

 


(d) NO INJUNCTION.
No statute, rule, regulation, executive order, decree, ruling or injunction shall have been enacted, entered, promulgated or adopted
by any court or governmental authority of competent jurisdiction that prohibits or directly and materially adversely affects any
of the transactions contemplated by the Transaction Documents, and no proceeding shall have been commenced that may have the effect
of prohibiting or materially adversely affecting any of the transactions contemplated by the Transaction Documents.


 


(e) ADVERSE CHANGES.
Since the date of filing of the Company’s most recent SEC Document, no event that had or is reasonably likely to have a
Material Adverse Effect has occurred.


 


(f) NO SUSPENSION
OF TRADING IN OR DELISTING OF COMMON STOCK. The trading of the Common Stock shall not have been suspended by the SEC, the
Principal Market or FINRA, or otherwise halted for any reason, and the Common Stock shall have been approved for listing or quotation
on and shall not have been delisted from the Principal Market. In the event of a suspension, delisting, or halting for any reason,
of the trading of the Common Stock, as contemplated by this Section 7.2(f), the Investor shall have the right to return to the
Company any remaining amount of Put Shares associated with such Put, and the Purchase Price with respect to such Put shall be
reduced accordingly.


 


(g) BENEFICIAL
OWNERSHIP LIMITATION. The number of Put Shares then to be purchased by the Investor shall not exceed the number of such shares
that, when aggregated with all other shares of Common Stock then owned by the Investor beneficially or deemed beneficially owned
by the Investor, would result in the Investor owning more than the Beneficial Ownership Limitation (as defined below), as determined
in accordance with Section 16 of the Exchange Act and the regulations promulgated thereunder. For purposes of this Section 7.2(g),
in the event that the amount of Common Stock outstanding, as determined in accordance with Section 16 of the Exchange Act and
the regulations promulgated thereunder, is greater on a Closing Date than on the date upon which the Put Notice associated with
such Closing Date is given, the amount of Common Stock outstanding on such Closing Date shall govern for purposes of determining
whether the Investor, when aggregating all purchases of Common Stock made pursuant to this Agreement, would own more than the
Beneficial Ownership Limitation following such Closing Date. The “Beneficial Ownership Limitation” shall be
4.99% of the number of shares of the Common Stock outstanding immediately after giving effect to the issuance of shares of Common
Stock issuable pursuant to a Put Notice.


 


(h) PRINCIPAL MARKET
REGULATION. The issuance of the Put Shares shall not exceed the Exchange Cap.


 


(i) NO KNOWLEDGE.
The Company shall have no knowledge of any event more likely than not to have the effect of causing the Registration Statement
to be suspended or otherwise ineffective (which event is more likely than not to occur within the fifteen (15) Trading Days following
the Trading Day on which such Put Notice is deemed delivered).


 






    	 	14	 



     


    

 


(j) NO
VIOLATION OF SHAREHOLDER APPROVAL REQUIREMENT. The issuance of the Put Shares shall not violate the shareholder approval requirements
of the Principal Market.


 


(k) OFFICER’S
CERTIFICATE. On the date of delivery of each Put Notice, the Investor shall have received the Closing Certificate executed
by an executive officer of the Company and to the effect that all the conditions to such Closing shall have been satisfied as
of the date of each such certificate.


 


(l) DWAC ELIGIBLE.
The Common Stock must be DWAC Eligible and not subject to a “DTC chill.”


 


(m) SEC DOCUMENTS.
All reports, schedules, registrations, forms, statements, information and other documents required to have been filed by the Company
with the SEC pursuant to the reporting requirements of the Exchange Act shall have been filed with the SEC within the applicable
time periods prescribed for such filings under the Exchange Act.


 


(n) RESERVE.
The Company shall have reserved 300% of the Required Minimum for the Investor’s benefit under this Agreement, and satisfied
the reserve requirements with respect to all other contracts between the Company and Investor.


 


(o) MINIMUM PRICING.
The lowest traded price of the Common Stock in the ten (10) Trading Days immediately preceding the respective Put Date must exceed
$0.01 per share (the “Minimum Pricing”).


 


ARTICLE VIII

LEGENDS


 


Section 8.1 NO RESTRICTIVE STOCK LEGEND. No
restrictive stock legend shall be placed on the share certificates representing the Put Shares.


 


Section 8.2 INVESTOR’S COMPLIANCE.
Nothing in this Article VIII shall affect in any way the Investor’s obligations hereunder to comply with all applicable
securities laws upon the sale of the Common Stock.


 






    	 	15	 



     


    

 


ARTICLE IX


NOTICES; INDEMNIFICATION


 


Section 9.1 NOTICES. All notices,
demands, requests, consents, approvals, and other communications required or permitted hereunder shall be in writing and,
unless otherwise specified herein, shall be (a) personally served, (b) deposited in the mail, registered or certified, return
receipt requested, postage prepaid, (c) delivered by reputable air courier service with charges prepaid, or (d) transmitted
by hand delivery, telegram, or email as a PDF, addressed as set forth below or to such other address as such party shall have
specified most recently by written notice given in accordance herewith. Any notice or other communication required or
permitted to be given hereunder shall be deemed effective (i) upon hand delivery or delivery by email at the address
designated below (if delivered on a business day during normal business hours where such notice is to be received), or the
first business day following such delivery (if delivered other than on a business day during normal business hours where such
notice is to be received) or (ii) on the second business day following the date of mailing by express courier service or on
the fifth business day after deposited in the mail, in each case, fully prepaid, addressed to such address, or upon actual
receipt of such mailing, whichever shall first occur.


 


The addresses for such communications shall be:


 


If to the Company:


 


Digerati Technologies, Inc.


1600 NE Loop 410, Suite
126


San Antonio, TX 78209


Email: antonio@digerati-inc.com


Attention: Arthur
Smith


 


If to the Investor:


 


Peak One Opportunity Fund, L.P.


333 South Hibiscus Drive


Miami Beach, FL 33139


E-mail: JGoldstein@PeakOneInvestments.com


Attention: Jason Goldstein


 


Either party hereto may from time
to time change its address or email for notices under this Section 9.1 by giving at least ten (10) days’ prior written notice of
such changed address to the other party hereto.


 






    	 	16	 



     


    

 


Section 9.2 INDEMNIFICATION. Each party
(an “Indemnifying Party”) agreesto indemnify and hold harmless the other party along with its officers,
directors, employees, and authorized agents, and each Person or entity, if any, who controls such party within the meaning of
Section 15 of the Securities Act or Section 20 of the Exchange Act (an “Indemnified Party”) from and
against any Damages, joint or several, and any action in respect thereof to which the Indemnified Party becomes subject to,
resulting from, arising out of or relating to (i) any misrepresentation, breach of warranty or nonfulfillment of or failure
to perform any covenant or agreement on the part of the Indemnifying Party contained in this Agreement, (ii) any untrue
statement or alleged untrue statement of a material fact contained in the Registration Statement or any post-effective
amendment thereof or supplement thereto, or the omission or alleged omission therefrom of a material fact required to be
stated therein or necessary to make the statements therein not misleading, (iii) any untrue statement or alleged untrue
statement of a material fact contained in any preliminary prospectus or contained in the final prospectus (as amended or
supplemented, if the Company files any amendment thereof or supplement thereto with the SEC) or the omission or alleged
omission to state therein any material fact necessary to make the statements made therein, in the light of the circumstances
under which the statements therein were made, not misleading, or (iv) any violation or alleged violation by the Company of
the Securities Act, the Exchange Act, any state securities law or any rule or regulation under the Securities Act, the
Exchange Act or any state securities law, as such Damages are incurred, except to the extent such Damages result primarily
from the Indemnified Party’s failure to perform any covenant or agreement contained in this Agreement or the
Indemnified Party’s negligence, recklessness or bad faith in performing its obligations under this Agreement; provided,
however, that the foregoing indemnity agreement shall not apply to any Damages of an Indemnified Party to the extent,
but only to the extent, arising out of or based upon any untrue statement or alleged untrue statement or omission or alleged
omission made by an Indemnifying Party in reliance upon and in conformity with written information furnished to the
Indemnifying Party by the Indemnified Party expressly for use in the Registration Statement, any post-effective amendment
thereof or supplement thereto, or any preliminary prospectus or final prospectus (as amended or supplemented).


 


Section 9.3 METHOD OF ASSERTING
INDEMNIFICATION CLAIMS. All claims for indemnification by any Indemnified Party under Section 9.2 shall be asserted and
resolved as follows:


 


(a) In the event any claim or demand in
respect of which an Indemnified Party might seek indemnity under Section 9.2 is asserted against or sought to be collected
from such Indemnified Party by a Person other than a party hereto or an affiliate thereof (a “Third Party
Claim”), the Indemnified Party shall deliver a written notification, enclosing a copy of all papers served, if any,
and specifying the nature of and basis for such Third Party Claim and for the Indemnified Party’s claim for
indemnification that is being asserted under any provision of Section 9.2 against an Indemnifying Party, together with the
amount or, if not then reasonably ascertainable, the estimated amount, determined in good faith, of such Third Party Claim (a
“Claim Notice”) with reasonable promptness to the Indemnifying Party. If the Indemnified Party fails to
provide the Claim Notice with reasonable promptness after the Indemnified Party receives notice of such Third Party Claim,
the Indemnifying Party shall not be obligated to indemnify the Indemnified Party with respect to such Third Party Claim to
the extent that the Indemnifying Party’s ability to defend has been prejudiced by such failure of the Indemnified
Party. The Indemnifying Party shall notify the Indemnified Party as soon as practicable within the period ending thirty (30)
calendar days following receipt by the Indemnifying Party of either a Claim Notice or an Indemnity Notice (as defined below)
(the “Dispute Period”) whether the Indemnifying Party disputes its liability or the amount of its
liability to the Indemnified Party under Section 9.2 and whether the Indemnifying Party desires, at its sole cost and
expense, to defend the Indemnified Party against such Third Party Claim.


 






    	 	17	 



     


    

 


(i) If the Indemnifying Party notifies the
Indemnified Party within the Dispute Period that the Indemnifying Party desires to defend the Indemnified Party with respect
to the Third Party Claim pursuant to this Section 9.3(a), then the Indemnifying Party shall have the right to defend, with
counsel reasonably satisfactory to the Indemnified Party, at the sole cost and expense of the Indemnifying Party, such Third
Party Claim by all appropriate proceedings, which proceedings shall be vigorously and diligently prosecuted by the
Indemnifying Party to a final conclusion or will be settled at the discretion of the Indemnifying Party (but only with the
consent of the Indemnified Party in the case of any settlement that provides for any relief other than the payment of
monetary damages or that provides for the payment of monetary damages as to which the Indemnified Party shall not be
indemnified in full pursuant to Section 9.2). The Indemnifying Party shall have full control of such defense and proceedings,
including any compromise or settlement thereof; provided,
however, that the Indemnified Party may, at the sole cost
and expense of the Indemnified Party, at any time prior to the Indemnifying Party’s delivery of the notice referred to
in the first sentence of this clause (i), file any motion, answer or other pleadings or take any other action that the
Indemnified Party reasonably believes to be necessary or appropriate to protect its interests; and provided, further,
that if requested by the Indemnifying Party, the Indemnified Party will, at the sole cost and expense of the
Indemnifying Party, provide reasonable cooperation to the Indemnifying Party in contesting any Third Party Claim that the
Indemnifying Party elects to contest. The Indemnified Party may participate in, but not control, any defense or settlement of
any Third Party Claim controlled by the Indemnifying Party pursuant to this clause (i), and except as provided in the
preceding sentence, the Indemnified Party shall bear its own costs and expenses with respect to such participation.
Notwithstanding the foregoing, the Indemnified Party may takeover the control of the defense or settlement of a Third Party
Claim at any time if it irrevocably waives its right to indemnity under Section 9.2 with respect to such Third Party
Claim.


 


(ii) If the
Indemnifying Party fails to notify the Indemnified Party within the Dispute Period that the Indemnifying Party desires to
defend the Third Party Claim pursuant to Section 9.3(a), or if the Indemnifying Party gives such notice but fails to
prosecute vigorously and diligently or settle the Third Party Claim, or if the Indemnifying Party fails to give any notice
whatsoever within the Dispute Period, then the Indemnified Party shall have the right to defend, at the sole cost and expense
of the Indemnifying Party, the Third Party Claim by all appropriate proceedings, which proceedings shall be prosecuted by the
Indemnified Party in a reasonable manner and in good faith or will be settled at the discretion of the Indemnified Party(with
the consent of the Indemnifying Party, which consent will not be unreasonably withheld). The Indemnified Party will have full
control of such defense and proceedings, including any compromise or settlement thereof; provided, however, that if requested
by the Indemnified Party, the Indemnifying Party will, at the sole cost and expense of the Indemnifying Party, provide
reasonable cooperation to the Indemnified Party and its counsel in contesting any Third Party Claim which the Indemnified
Party is contesting. Notwithstanding the foregoing provisions of this clause (ii), if the Indemnifying Party has notified the
Indemnified Party within the Dispute Period that the Indemnifying Party disputes its liability or the amount of its liability
hereunder to the Indemnified Party with respect to such Third Party Claim and if such dispute is resolved in favor of the
Indemnifying Party in the manner provided in clause (iii) below, the Indemnifying Party will not be required to bear the
costs and expenses of the Indemnified Party’s defense pursuant to this clause (ii) or of the Indemnifying Party’s
participation therein at the Indemnified Party’s request, and the Indemnified Party shall reimburse the Indemnifying
Party in full for all reasonable costs and expenses incurred by the Indemnifying Party in connection with such litigation.
The Indemnifying Party may participate in, but not control, any defense or settlement controlled by the Indemnified Party
pursuant to this clause (ii), and the Indemnifying Party shall bear its own costs and expenses with respect to such
participation.


 






    	 	18	 



     


    

 


(iii) If the
Indemnifying Party notifies the Indemnified Party that it does not dispute its liability or the amount of its liability to
the Indemnified Party with respect to the Third Party Claim under Section 9.2 or fails to notify the Indemnified Party within
the Dispute Period whether the Indemnifying Party disputes its liability or the amount of its liability to the Indemnified
Party with respect to such Third Party Claim, the amount of Damages specified in the Claim Notice shall be conclusively
deemed a liability of the Indemnifying Party under Section 9.2 and the Indemnifying Party shall pay the amount of such
Damages to the Indemnified Party on demand. If the Indemnifying Party has timely disputed its liability or the amount of its
liability with respect to such claim, the Indemnifying Party and the Indemnified Party shall proceed in good faith to
negotiate a resolution of such dispute; provided,
however, that if the dispute is not resolved within thirty (30) days
after the Claim Notice, the Indemnifying Party shall be entitled to institute such legal action as it deems appropriate.


 


(b) In the event
any Indemnified Party should have a claim under Section 9.2 against the Indemnifying Party that does not involve a Third Party
Claim, the Indemnified Party shall deliver a written notification of a claim for indemnity under Section 9.2 specifying the nature
of and basis for such claim, together with the amount or, if not then reasonably ascertainable, the estimated amount, determined
in good faith, of such claim (an “Indemnity Notice”) with reasonable promptness to the Indemnifying Party. The
failure by any Indemnified Party to give the Indemnity Notice shall not impair such party’s rights hereunder except to the extent
that the Indemnifying Party demonstrates that it has been irreparably prejudiced thereby. If the Indemnifying Party notifies the
Indemnified Party that it does not dispute the claim or the amount of the claim described in such Indemnity Notice or fails to
notify the Indemnified Party within the Dispute Period whether the Indemnifying Party disputes the claim or the amount of the claim
described in such Indemnity Notice, the amount of Damages specified in the Indemnity Notice will be conclusively deemed a liability
of the Indemnifying Party under Section 9.2 and the Indemnifying Party shall pay the amount of such Damages to the Indemnified
Party on demand. If the Indemnifying Party has timely disputed its liability or the amount of its liability with respect to such
claim, the Indemnifying Party and the Indemnified Party shall proceed in good faith to negotiate a resolution of such dispute;
provided, however, that if the dispute is not resolved within thirty (30) days after the Claim Notice, the Indemnifying Party shall
be entitled to institute such legal action as it deems appropriate.


 


(c) The Indemnifying
Party agrees to pay the Indemnified Party, promptly as such expenses are incurred and are due and payable, for any reasonable legal
fees or other reasonable expenses incurred by them in connection with investigating or defending any such Claim.


 


(d) The indemnity provisions contained herein
shall be in addition to (i) any cause of action or similar rights of the Indemnified Party against the Indemnifying Party or
others, and (ii) any liabilities the Indemnifying Party may be subject to.





 



    	 	19	 



     


    

 



ARTICLE X


MISCELLANEOUS


 


Section 10.1 GOVERNING LAW;
JURISDICTION. This Agreement shall be governed by and interpreted in accordance with the laws of the State of Nevada
without regard to the principles of conflicts of law. Each of the Company and the Investor hereby submits to the exclusive
jurisdiction of the United States federal and state courts located in Florida, County of Miami-Dade, with respect to any
dispute arising under the Transaction Documents or the transactions contemplated thereby.


 


Section 10.2 [Intentionally Omitted.]


 


Section 10.3 ASSIGNMENT. This Agreement
shall be binding upon and inure to the benefit of the Company and the Investor and their respective successors. Neither this
Agreement nor any rights of the Investor or the Company hereunder may be assigned by either party to any other Person.


 


Section 10.4 NO THIRD PARTY
BENEFICIARIES. This Agreement is intended for the benefit of the Company and the Investor and their respective
successors, and is not for the benefit of, nor may any provision hereof be enforced by, any other Person, except as set forth
in Section 9.3.


 


Section 10.5 TERMINATION. The Company
may terminate this Agreement at any time by written notice to the Investor, except during any Valuation Period or at any time
that the Investor holds any of the Put Shares. In addition, this Agreement shall automatically terminate at the end of the
Commitment Period.


 


Section 10.6 ENTIRE AGREEMENT. The
Transaction Documents, together with the exhibits and schedules thereto, contain the entire understanding of the Company and
the Investor with respect to the matters covered herein and therein and supersede all prior agreements and understandings,
oral or written, with respect to such matters, which the parties acknowledge have been merged into such documents, exhibits
and schedules.


 


Section 10.7 FEES AND EXPENSES. Except
as expressly set forth in the Transaction Documents or any other writing to the contrary, each party shall pay the fees and
expenses of its advisers, counsel, accountants and other experts, if any, and all other expenses incurred by such party
incident to the negotiation, preparation, execution, delivery and performance of this Agreement. The Company shall pay all
Transfer Agent fees (including, without limitation, any fees required for same-day processing of any instruction letter
delivered by the Company), stamp taxes and other taxes and duties levied in connection with the delivery of any Securities to
the Investor. Upon execution of this Agreement, the Company shall issue the Commitment Shares to Investor or Investor’s
designee for its commitment to enter into this Agreement. The Commitment Shares shall be earned in full upon the execution of
this Agreement, and the Commitment Shares are not contingent upon any other event or condition, including but not limited to
the effectiveness of the Registration Statement or the Company’s submission of a Put Notice to the Investor.


 






    	 	20	 



     


    

 


Section 10.8 COUNTERPARTS. This
Agreement may be executed in multiple counterparts, each of which may be executed by less than all of the parties and shall
be deemed to be an original instrument which shall be enforceable against the parties actually executing such counterparts
and all of which together shall constitute one and the same instrument. This Agreement may be delivered to the other parties
hereto by email of a copy of this Agreement bearing the signature of the parties so delivering this Agreement.


 


Section 10.9 SEVERABILITY. In the event
that any provision of this Agreement becomes or is declared by a court of competent jurisdiction to be illegal, unenforceable
or void, this Agreement shall continue in full force and effect without said provision; provided that such severability shall
be ineffective if it materially changes the economic benefit of this Agreement to any party.


 


Section 10.10 FURTHER ASSURANCES. Each
party shall do and perform, or cause to be done and performed, all such further acts and things, and shall execute and
deliver all such other agreements, certificates, instruments and documents, as the other party may reasonably request in
order to carry out the intent and accomplish the purposes of this Agreement and the consummation of the transactions
contemplated hereby.


 


Section 10.11 NO STRICT CONSTRUCTION.
The language used in this Agreement will be deemed to be the language chosen by the parties to express their mutual intent,
and no rules of strict construction will be applied against any party.


 


Section 10.12 EQUITABLE RELIEF. The
Company recognizes that in the event that it fails to perform, observe, or discharge any or all of its obligations under this
Agreement, any remedy at law may prove to be inadequate relief to the Investor. The Company therefore agrees that the
Investor shall be entitled to temporary and permanent injunctive relief in any such case without the necessity of proving
actual damages.


 


Section 10.13 TITLE AND SUBTITLES. The
titles and subtitles used in this Agreement are used for the convenience of reference and are not to be considered in
construing or interpreting this Agreement.


 


Section 10.14 AMENDMENTS; WAIVERS. No
provision of this Agreement may be amended or waived by the parties from and after the date that is one (1) Trading Day
immediately preceding the initial filing of the Registration Statement with the SEC. Subject to the immediately preceding
sentence, (i) no provision of this Agreement may be amended other than by a written instrument signed by both parties hereto
and (ii) no provision of this Agreement may be waived other than in a written instrument signed by the party against whom
enforcement of such waiver is sought. No failure or delay in the exercise of any power, right or privilege hereunder shall
operate as a waiver thereof, nor shall any single or partial exercise of any such power, right or privilege preclude other or
further exercise thereof or of any other right, power or privilege.


  


Section 10.15 PUBLICITY. The Company and
the Investor shall consult with each other in issuing any press releases or otherwise making public statements with respect
to the transactions contemplated hereby and no party shall issue any such press release or otherwise make any such public
statement, other than as required by law, without the prior written consent of the other parties, which consent shall not be
unreasonably withheld or delayed, except that no prior consent shall be required if such disclosure is required by law, in
which such case the disclosing party shall provide the other party with prior notice of such public statement.
Notwithstanding the foregoing, the Company shall not publicly disclose the name of the Investor without the prior written
consent of the Investor, except to the extent required by law. The Investor acknowledges that this Agreement and all or part
of the Transaction Documents may be deemed to be “material contracts,” as that term is defined by Item 601(b)(10)
of Regulation S-K, and that the Company may therefore be required to file such documents as exhibits to reports or
registration statements filed under the Securities Act or the Exchange Act. The Investor further agrees that the status of
such documents and materials as material contracts shall be determined solely by the Company, in consultation with its
counsel.


 


[Signature Page Follows]


 






    	 	21	 



     


    

 


IN WITNESS
WHEREOF, the parties have caused this Agreement to be duly executed by their respective officers thereunto duly authorized
as of the day and year first above written.


 





	 	THE COMPANY:
	 	 	 
	 	DIGERATI TECHNOLOGIES, INC.
	 	 	 
	 	By:	/s/ Arthur Smith
	 	Name:	Arthur Smith
	 	Title:	Chief Executive Officer


 


	 	INVESTOR:
	 	 
	 	PEAK ONE OPPORTUNITY FUND, L.P.
	 	 
	 	By:	
        Peak One Investments, LLC,

        General Partner

	 	 	 
	 	 	By:	/s/ Jason Goldstein
	 	 	Name: 	Jason Goldstein
	 	 	Title: 	Managing Member


 


[Signature Page to equity purchase
agreement]




 






    	 	22	 



     


    







 


EXHIBIT A


 


FORM OF PUT NOTICE


 


TO: PEAK ONE OPPORTUNITY FUND, L.P.


DATE: ______________


 


We refer
to the equity purchase agreement, dated January 12, 2018 (the “Agreement”), entered into by and between Digerati
Technologies, Inc. and you. Capitalized terms defined in the Agreement shall, unless otherwise defined herein, have the same meaning
when used herein.


 


We hereby:


 


1) Give you notice that we require you to purchase
________ Put Shares at an initial purchase price per share of ________; and


 


2) Certify that, as of the date
hereof, the conditions set forth in Section 7.2 of the Agreement are satisfied.


 





	 	DIGERATI TECHNOLOGIES, INC.
	 	 
	 	By:	 
	 	Name:	Arthur Smith 
	 	Title:	Chief Executive Officer




 






    	 	23	 



     


    

 


EXHIBIT B


 


FORM OF OFFICER’S CERTIFICATE

OF DIGERATI TECHNOLOGIES, INC.


 


Pursuant to Section
7.2(k) of that certain equity purchase agreement, dated January 12, 2018 (the “Agreement”), by and between Digerati
Technologies, Inc. (the “Company”) and Peak One Opportunity Fund, L.P. (the “Investor”),
the undersigned, in his capacity as Chief Executive Officer of the Company, and not in his individual capacity, hereby certifies,
as of the date hereof (such date, the “Condition Satisfaction Date”), the following:


 


1. The
representations and warranties of the Company are true and correct in all material respects as of the Condition Satisfaction Date
as though made on the Condition Satisfaction Date (except for representations and warranties specifically made as of a particular
date) with respect to all periods, and as to all events and circumstances occurring or existing to and including the Condition
Satisfaction Date, except for any conditions which have temporarily caused any representations or warranties of the Company set
forth in the Agreement to be incorrect and which have been corrected with no continuing impairment to the Company or the Investor;
and


 


2. All
of the conditions precedent to the obligation of the Investor to purchase Put Shares set forth in the Agreement, including but
not limited to Section 7.2 of the Agreement, have been satisfied as of the Condition Satisfaction Date.


 


Capitalized terms
used herein shall have the meanings set forth in the Agreement unless otherwise defined herein.


 


IN WITNESS WHEREOF,
the undersigned has hereunto affixed his hand as of the _________, 20__.


 





	 	By:	 
	 	Name:	Arthur Smith 
	 	Title:	Chief Executive Officer


 








    	 	24