Exhibit 4.1


 


Warrant Certificate No. ___


 


NEITHER THE SECURITIES REPRESENTED BY THIS CERTIFICATE
NOR THE SECURITIES ISSUABLE UPON THE EXERCISE OF THIS WARRANT HAVE BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED
(THE “ACT”), OR ANY STATE SECURITIES LAWS, AND NEITHER SUCH SECURITIES NOR ANY INTEREST THEREIN MAY BE OFFERED, SOLD,
ASSIGNED OR OTHERWISE TRANSFERRED UNLESS (1) A REGISTRATION STATEMENT WITH RESPECT THERETO IS EFFECTIVE UNDER THE ACT AND ANY APPLICABLE
STATE SECURITIES LAWS, OR (2) AN EXEMPTION FROM SUCH REGISTRATION EXISTS AND THE COMPANY RECEIVES AN OPINION OF COUNSEL TO THE
HOLDER OF SUCH SECURITIES, WHICH COUNSEL AND OPINION ARE SATISFACTORY TO THE COMPANY, THAT SUCH SECURITIES MAY BE OFFERED, SOLD,
PLEDGED, ASSIGNED OR TRANSFERRED IN THE MANNER CONTEMPLATED WITHOUT AN EFFECTIVE REGISTRATION STATEMENT UNDER THE ACT OR APPLICABLE
STATE SECURITIES LAWS.


 


	Effective Date: [    ], 2015	Void After: [    ], 2020




 


GrowGeneration,
Corp.


 


WARRANT TO PURCHASE COMMON STOCK


 


GrowGeneration, Corp., a
Colorado corporation (the “Company”), for value received on [    ], 2015 (the “Effective Date”),
hereby issues to [    ] (the “Holder” or “Warrant Holder”) this Warrant (the “Warrant”)
to purchase, [    ] shares (each such share as from time to time adjusted as hereinafter provided being a “Warrant
Share” and all such shares being the “Warrant Shares”) of the Company’s Common Stock (as defined
below), at the Exercise Price (as defined below), as adjusted from time to time as provided herein, on or before [    ], 2020 (the
“Expiration Date”), all subject to the following terms and conditions. This Warrant is one of a series of warrants
of like tenor that have been issued in connection with the Company’s private offering solely to accredited investors of units
in accordance with, and subject to, the terms and conditions described in the Subscription Agreement, attached to the Confidential
Private Placement Memorandum of the Company dated July 11, 2015, as the same may be amended and supplemented from time to time
(the “Subscription Agreement” and the “Private Placement Memorandum” respectively).


As used in this Warrant, (i) “Business
Day” means any day other than Saturday, Sunday or any other day on which commercial banks in the City of New York, New
York, are authorized or required by law or executive order to close; (ii) “Common Stock” means the common stock
of the Company, par value $0.001 per share, including any securities issued or issuable with respect thereto or into which or for
which such shares may be exchanged for, or converted into, pursuant to any stock dividend, stock split, stock combination, recapitalization,
reclassification, reorganization or other similar event; (iii) “Exercise Price” means $.70 per share of Common
Stock, subject to adjustment as provided herein; (iv) “Trading Day” means any day on which the Common Stock
is traded (or available for trading) on its principal trading market; (v) “Affiliate” means any person that,
directly or indirectly, through one or more intermediaries, controls, is controlled by, or is under common control with, a person,
as such terms are used and construed in Rule 144 promulgated under the Securities Act of 1933, as amended (the “Securities
Act”) and (vi) “Warrantholders” means the holders of Warrants issued pursuant to the Subscription
Agreement and Private Placement Memorandum.


 






    


     


    

 


		1.	DURATION AND EXERCISE OF WARRANTS



 


(a)          Exercise Period.
The Holder may exercise this Warrant in whole or in part on any Business Day on or before 5:00 P.M., Eastern Time, on the Expiration
Date, at which time this Warrant shall become void and of no value.


 


		(b)	Exercise Procedures.



 


(i)           While this Warrant remains
outstanding and exercisable in accordance with Section 1(a), the Holder may exercise this Warrant in whole or in part at any time
and from time to time by:


 


(A)          delivery to the Company
of a duly executed copy of the Notice of Exercise attached as Exhibit A;


 


(B)          surrender of this Warrant
to the Secretary of the Company at its principal offices or at such other office or agency as the Company may specify in writing
to the Holder; and


 


(C)          payment of the then-applicable
Exercise Price per share multiplied by the number of Warrant Shares being purchased upon exercise of the Warrant (such amount,
the “Aggregate Exercise Price”) made in the form of cash, or by certified check, bank draft or money order payable
in lawful money of the United States of America.


 


(ii)          Upon the exercise of this
Warrant in compliance with the provisions of this Section 1(b), the Company shall promptly issue and cause to be delivered to the
Holder a certificate for the Warrant Shares purchased by the Holder. Each exercise of this Warrant shall be effective immediately
prior to the close of business on the date (the “Date of Exercise”) that the conditions set forth in Section
1(b) have been satisfied, as the case may be. On the first Business Day following the date on which the Company has received each
of the Notice of Exercise and the Aggregate Exercise Price (the “Exercise Delivery Documents”), the Company
shall transmit an acknowledgment of receipt of the Exercise Delivery Documents to the Company’s transfer agent (the “Transfer
Agent”). On or before the third Business Day following the date on which the Company has received all of the Exercise
Delivery Documents (the “Share Delivery Date”), the Company shall (X) provided that the Transfer Agent is participating
in The Depository Trust Company (“DTC”) Fast Automated Securities Transfer Program, upon the request of the
Holder, credit such aggregate number of shares of Common Stock to which the Holder is entitled pursuant to such exercise to the
Holder’s or its designee’s balance account with DTC through its Deposit Withdrawal Agent Commission system, or (Y)
if the Transfer Agent is not participating in the DTC Fast Automated Securities Transfer Program, issue and dispatch by overnight
courier to the address as specified in the Notice of Exercise, a certificate, registered in the Company’s share register
in the name of the Holder or its designee, for the number of shares of Common Stock to which the Holder is entitled pursuant to
such exercise. Upon delivery of the Exercise Delivery Documents, the Holder shall be deemed for all corporate purposes to have
become the holder of record of the Warrant Shares with respect to which this Warrant has been exercised, irrespective of the date
of delivery of the certificates evidencing such Warrant Shares.


 



    2


     


    

 


(c)          Partial Exercise.
This Warrant shall be exercisable, either in its entirety or, from time to time, for part only of the number of Warrant Shares
referenced by this Warrant. If this Warrant is submitted in connection with any exercise pursuant to Section 1 and the number of
Warrant Shares represented by this Warrant submitted for exercise is greater than the actual number of Warrant Shares being acquired
upon such an exercise, then the Company shall as soon as practicable and in no event later than five (5) Business Days after
any exercise and at its own expense, issue a new Warrant of like tenor representing the right to purchase the number of Warrant
Shares purchasable immediately prior to such exercise under this Warrant, less the number of Warrant Shares with respect to which
this Warrant is exercised.


 


(d)          Disputes. In the
case of a dispute as to the determination of the Exercise Price or the arithmetic calculation of the Warrant Shares, the Company
shall promptly issue to the Holder the number of Warrant Shares that are not disputed and resolve such dispute in accordance with
Section 16.


 


		2.	ISSUANCE OF WARRANT SHARES



 


(a)          The Company covenants that
all Warrant Shares will, upon issuance in accordance with the terms of this Warrant, be (i) duly authorized, fully paid and non-assessable,
and (ii) free from all liens, charges and security interests, with the exception of claims arising through the acts or omissions
of any Holder and except as arising from applicable Federal and state securities laws.


 


(b)          The Company shall register
this Warrant upon records to be maintained by the Company for that purpose in the name of the record holder of such Warrant from
time to time. The Company may deem and treat the registered Holder of this Warrant as the absolute owner thereof for the purpose
of any exercise thereof, any distribution to the Holder thereof and for all other purposes.


 


(c)          The Company will not, by
amendment of its certificate of incorporation, by-laws or through any reorganization, transfer of assets, consolidation, merger,
dissolution, issue or sale of securities or any other voluntary action, avoid or seek to avoid the observance or performance of
any of the terms to be observed or performed hereunder by the Company, but will at all times in good faith assist in the carrying
out of all the provisions of this Warrant and in the taking of all action necessary or appropriate in order to protect the rights
of the Holder to exercise this Warrant, or against impairment of such rights.


 






    3


     


    

 


		3.	ADJUSTMENTS OF EXERCISE PRICE, NUMBER AND TYPE OF WARRANT SHARES



 


(a)          The Exercise Price and the
number of shares purchasable upon the exercise of this Warrant shall be subject to adjustment from time to time upon the occurrence
of certain events described in this Section 3; provided, that notwithstanding the provisions of this Section 3, the Company
shall not be required to make any adjustment if and to the extent that such adjustment would require the Company to issue a number
of shares of Common Stock in excess of its authorized but unissued shares of Common Stock, less all amounts of Common Stock that
have been reserved for issue upon the conversion of all outstanding securities convertible into shares of Common Stock and the
exercise of all outstanding options, warrants and other rights exercisable for shares of Common Stock. If the Company does not
have the requisite number of authorized but unissued shares of Common Stock to make any adjustment, the Company shall use its commercially
best efforts to obtain the necessary stockholder consent to increase the authorized number of shares of Common Stock to make such
an adjustment pursuant to this Section 3.


 


(i)          Subdivision or Combination
of Stock. In case the Company shall at any time subdivide (whether by way of stock dividend, stock split or otherwise) its
outstanding shares of Common Stock into a greater number of shares, the Exercise Price in effect immediately prior to such subdivision
shall be proportionately reduced and the number of Warrant Shares shall be proportionately increased, and conversely, in case the
outstanding shares of Common Stock of the Company shall be combined (whether by way of stock combination, reverse stock split or
otherwise) into a smaller number of shares, the Exercise Price in effect immediately prior to such combination shall be proportionately
increased and the number of Warrant Shares shall be proportionately decreased. The Exercise Price and the Warrant Shares, as so
adjusted, shall be readjusted in the same manner upon the happening of any successive event or events described in this Section
3(a)(i).


 


(ii)         Dividends in Stock, Property,
Reclassification. If at any time, or from time to time, all of the holders of Common Stock (or any shares of stock or other
securities at the time receivable upon the exercise of this Warrant) shall have received or become entitled to receive, without
payment therefore:


 


(A)          any shares of stock or other
securities that are at any time directly or indirectly convertible into or exchangeable for Common Stock, or any rights or options
to subscribe for, purchase or otherwise acquire any of the foregoing by way of dividend or other distribution, or


 


(B)          additional stock or other
securities or property (including cash) by way of spin-off, split-up, reclassification, combination of shares or similar corporate
rearrangement (other than shares of Common Stock issued as a stock split or adjustments in respect of which shall be covered by
the terms of Section 3(a)(i) above),


 



    4


     


    

 


then and in each such case, the Exercise Price and
the number of Warrant Shares to be obtained upon exercise of this Warrant shall be adjusted proportionately, and the Holder hereof
shall, upon the exercise of this Warrant, be entitled to receive, in addition to the number of shares of Common Stock receivable
thereupon, and without payment of any additional consideration therefor, the amount of stock and other securities and property
(including cash in the cases referred to above) that such Holder would hold on the date of such exercise had such Holder been the
holder of record of such Common Stock as of the date on which holders of Common Stock received or became entitled to receive such
shares or all other additional stock and other securities and property. The Exercise Price and the Warrant Shares, as so adjusted,
shall be readjusted in the same manner upon the happening of any successive event or events described in this Section 3(a)(ii).


 


(iii)          Reorganization, Reclassification,
Consolidation, Merger or Sale. If any recapitalization, reclassification or reorganization of the capital stock of the Company,
or any consolidation or merger of the Company with another corporation, or the sale of all or substantially all of its assets or
other transaction shall be effected in such a way that holders of Common Stock shall be entitled to receive stock, securities,
or other assets or property (an “Organic Change”), then, as a condition of such Organic Change, lawful and adequate
provisions shall be made by the Company whereby the Holder hereof shall thereafter have the right to purchase and receive (in lieu
of the shares of the Common Stock of the Company immediately theretofore purchasable and receivable upon the exercise of the rights
represented by this Warrant) such shares of stock, securities or other assets or property as may be issued or payable with respect
to or in exchange for a number of outstanding shares of such Common Stock equal to the number of shares of such stock immediately
theretofore purchasable and receivable assuming the full exercise of the rights represented by this Warrant. In the event of any
Organic Change, appropriate provision shall be made by the Company with respect to the rights and interests of the Holder of this
Warrant to the end that the provisions hereof (including, without limitation, provisions for adjustments of the Exercise Price
and of the number of shares purchasable and receivable upon the exercise of this Warrant and registration rights) shall thereafter
be applicable, in relation to any shares of stock, securities or assets thereafter deliverable upon the exercise hereof. The Company
will not effect any such consolidation, merger or sale unless, prior to the consummation thereof, the successor corporation (if
other than the Company) resulting from such consolidation or merger or the corporation purchasing such assets shall assume by written
instrument reasonably satisfactory in form and substance to the Holder executed and mailed or delivered to the registered Holder
hereof at the last address of such Holder appearing on the books of the Company, the obligation to deliver to such Holder such
shares of stock, securities or assets as, in accordance with the foregoing provisions, such Holder may be entitled to purchase.
If there is an Organic Change, then the Company shall cause to be mailed to the Holder at its last address as it shall appear on
the books and records of the Company, at least 10 calendar days before the effective date of the Organic Change, a notice stating
the date on which such Organic Change is expected to become effective or close, and the date as of which it is expected that holders
of the Common Stock of record shall be entitled to exchange their shares for securities, cash, or other property delivered upon
such Organic Change; provided, that the failure to mail such notice or any defect therein or in the mailing thereof shall not affect
the validity of the corporate action required to be specified in such notice. The Holder is entitled to exercise this Warrant during
the 10-day period commencing on the date of such notice to the effective date of the event triggering such notice. In any
event, the successor corporation (if other than the Company) resulting from such consolidation or merger or the corporation purchasing
such assets shall be deemed to assume such obligation to deliver to such Holder such shares of stock, securities or assets even
in the absence of a written instrument assuming such obligation to the extent such assumption occurs by operation of law.



 






    5


     


    

 


(b)          Certificate as to Adjustments.
Upon the occurrence of each adjustment or readjustment pursuant to this Section 3, the Company at its expense shall promptly compute
such adjustment or readjustment in accordance with the terms hereof and furnish to each Holder of this Warrant a certificate setting
forth such adjustment or readjustment and showing in detail the facts upon which such adjustment or readjustment is based. The
Company shall promptly furnish or cause to be furnished to such Holder a like certificate setting forth: (i) such adjustments and
readjustments; and (ii) the number of shares and the amount, if any, of other property which at the time would be received upon
the exercise of the Warrant.


 


(c)          Certain Events. If
any event occurs as to which the other provisions of this Section 3 are not strictly applicable but the lack of any adjustment
would not fairly protect the purchase rights of the Holder under this Warrant in accordance with the basic intent and principles
of such provisions, or if strictly applicable would not fairly protect the purchase rights of the Holder under this Warrant in
accordance with the basic intent and principles of such provisions, then the Company's Board of Directors will, in good faith,
make an appropriate adjustment to protect the rights of the Holder; provided, that no such adjustment pursuant to this Section
3(c) will increase the Exercise Price or decrease the number of Warrant Shares as otherwise determined pursuant to this Section
3.


 


	4.	REDEMPTION OF WARRANTS




(a)          General. Prior to
the Expiration Date, the Company shall have the option, subject to the conditions set forth herein, to redeem all of the Warrants
then outstanding upon not less than thirty (30) days nor more than sixty (60) days prior written notice to the Warrant Holders
at any time provided that, at the time of delivery of such notice (i) there is an effective registration statement covering the
resale of the Warrant Shares; and (ii) the closing bid price of the Company’s Common Stock for 20 of the 30 consecutive trading
days prior to the date of the notice of redemption is at least $1.05 as proportionately adjusted to reflect any stock splits, stock
dividends, combination of shares or like events.


 


(b)          Notice. Notice of
redemption will be effective upon mailing in accordance with this Section and such date may be referred to below as the “Notice
Date.” Notice of redemption shall be mailed by first class mail, postage prepaid, by the Company not less than 30 days
prior to the date fixed for redemption to the Holders of the Warrants to be redeemed at their last addresses as they shall appear
on the registration books. Any notice mailed in the manner herein provided shall be conclusively presumed to have been duly given
whether or not the Holder received such notice.


 


(c)          Redemption Date and Redemption
Price. The notice of redemption shall state the date set for redemption, which date shall be not less than thirty (30) days,
or more than sixty (60) days, from the Notice Date (the “Redemption Date”). The Company shall not mail the notice
of redemption unless all funds necessary to pay for redemption of the Warrants to be redeemed shall have first been set aside by
the Company for the benefit of the Warrant Holders so as to be and continue to be available therefor. The redemption price to be
paid to the Warrant Holders will be $0.001 for each share of Common Stock of the Company to which the Warrant Holder would then
be entitled upon exercise of the Warrant being redeemed, as adjusted from time to time as provided herein (the “Redemption
Price”).


 



    6


     


    

 


(d)          Exercise. Following
the Notice Date, the Warrant Holders may exercise their Warrants in accordance with Section 1 of this Warrant between the Notice
Date and 5:00 p.m. Eastern Time on the Redemption Date and such exercise shall be timely if the form of election to purchase duly
executed and the Warrant Exercise Price for the shares of Common Stock to be purchased are actually received by the Company at
its principal offices prior to 5:00 p.m. Eastern Time on the Redemption Date.


 


(e)          Mailing. If any Warrant
Holder does not wish to exercise any Warrant being redeemed, he should mail such Warrant to the Company at its principal offices
after receiving the notice of redemption. On and after 5:00 p.m. Eastern Time on the Redemption Date, notwithstanding that any
Warrant subject to redemption shall not have been surrendered for redemption, the obligation evidenced by all Warrants not surrendered
for redemption or effectively exercised shall be deemed no longer outstanding, and all rights with respect thereto shall forthwith
cease and terminate, except only the right of the holder of each Warrant subject to redemption to receive the Redemption Price
for each share of Common Stock to which he would be entitled if he exercised the Warrant upon receiving notice of redemption of
the Warrant subject to redemption held by him.


 


		5.	TRANSFERS AND EXCHANGES OF WARRANT AND WARRANT SHARES



 


(a)          Registration of Transfers
and Exchanges. Subject to Section 5(c), upon the Holder’s surrender of this Warrant, with a duly executed copy of the
Form of Assignment attached as Exhibit B, to the Secretary of the Company at its principal offices or at such other office
or agency as the Company may specify in writing to the Holder, the Company shall register the transfer of all or any portion of
this Warrant. Upon such registration of transfer, the Company shall issue a new Warrant, in substantially the form of this Warrant,
evidencing the acquisition rights transferred to the transferee and a new Warrant, in similar form, evidencing the remaining acquisition
rights not transferred, to the Holder requesting the transfer.


 


(b)          Warrant Exchangeable
for Different Denominations. The Holder may exchange this Warrant for a new Warrant or Warrants, in substantially the form
of this Warrant, evidencing in the aggregate the right to purchase the number of Warrant Shares which may then be purchased hereunder,
each of such new Warrants to be dated the date of such exchange and to represent the right to purchase such number of Warrant Shares
as shall be designated by the Holder. The Holder shall surrender this Warrant with duly executed instructions regarding such re-certification
of this Warrant to the Secretary of the Company at its principal offices or at such other office or agency as the Company may specify
in writing to the Holder.


 


(c)          Restrictions on Transfers.
This Warrant may not be transferred at any time without (i) registration under the Securities Act or (ii) an exemption from such
registration and a written opinion of legal counsel addressed to the Company that the proposed transfer of the Warrant may be effected
without registration under the Securities Act, which opinion will be in form and from counsel reasonably satisfactory to the Company.


 






    7


     


    

 


(d)          Permitted Transfers and
Assignments. Notwithstanding any provision to the contrary in this Section 5, the Holder may transfer, with or without consideration,
this Warrant or any of the Warrant Shares (or a portion thereof) to the Holder’s Affiliates (as such term is defined under
Rule 144 of the Securities Act) without obtaining the opinion from counsel that may be required by Section 5(c)(ii), provided,
that the Holder delivers to the Company and its counsel certification, documentation, and other assurances reasonably required
by the Company’s counsel to enable the Company’s counsel to render an opinion to the Company’s Transfer Agent
that such transfer does not violate applicable securities laws.


 


		6.	MUTILATED OR MISSING WARRANT CERTIFICATE



 


If this Warrant is mutilated, lost,
stolen or destroyed, upon request by the Holder, the Company will, at its expense, issue, in exchange for and upon cancellation
of the mutilated Warrant, or in substitution for the lost, stolen or destroyed Warrant, a new Warrant, in substantially the form
of this Warrant, representing the right to acquire the equivalent number of Warrant Shares; provided, that, as a prerequisite
to the issuance of a substitute Warrant, the Company may require satisfactory evidence of loss, theft or destruction as well as
an indemnity from the Holder of a lost, stolen or destroyed Warrant.


 


		7.	PAYMENT OF TAXES



 


The Company will pay all transfer
and stock issuance taxes attributable to the preparation, issuance and delivery of this Warrant and the Warrant Shares (and replacement
Warrants) including, without limitation, all documentary and stamp taxes; provided, however, that the Company shall
not be required to pay any tax in respect of the transfer of this Warrant, or the issuance or delivery of certificates for Warrant
Shares or other securities in respect of the Warrant Shares to any person or entity other than to the Holder.


 


	8.	FRACTIONAL WARRANT SHARES




 


No fractional Warrant Shares shall
be issued upon exercise of this Warrant. The Company, in lieu of issuing any fractional Warrant Share, shall round up the number
of Warrant Shares issuable to nearest whole share.


 


		9.	NO STOCK RIGHTS AND LEGEND



 


No holder of this Warrant, as such,
shall be entitled to vote or be deemed the holder of any other securities of the Company that may at any time be issuable on the
exercise hereof, nor shall anything contained herein be construed to confer upon the holder of this Warrant, as such, the rights
of a stockholder of the Company or the right to vote for the election of directors or upon any matter submitted to stockholders
at any meeting thereof, or give or withhold consent to any corporate action or to receive notice of meetings or other actions affecting
stockholders (except as provided herein), or to receive dividends or subscription rights or otherwise (except as provide herein).


 



    8


     


    

 


Each certificate for Warrant Shares
initially issued upon the exercise of this Warrant, and each certificate for Warrant Shares issued to any subsequent transferee
of any such certificate, shall be stamped or otherwise imprinted with a legend in substantially the following form:


 


“THE SECURITIES REPRESENTED
BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”), OR ANY STATE
SECURITIES LAWS, AND NEITHER SUCH SECURITIES NOR ANY INTEREST THEREIN MAY BE OFFERED, SOLD, PLEDGED, ASSIGNED OR OTHERWISE TRANSFERRED
UNLESS (1) A REGISTRATION STATEMENT WITH RESPECT THERETO IS EFFECTIVE UNDER THE ACT AND ANY APPLICABLE STATE SECURITIES LAWS, OR
(2) AN EXEMPTION FROM SUCH REGISTRATION EXISTS AND THE COMPANY RECEIVES AN OPINION OF COUNSEL TO THE HOLDER OF SUCH SECURITIES,
WHICH COUNSEL AND OPINION ARE REASONABLY SATISFACTORY TO THE COMPANY, THAT SUCH SECURITIES MAY BE OFFERED, SOLD, PLEDGED, ASSIGNED
OR TRANSFERRED IN THE MANNER CONTEMPLATED WITHOUT AN EFFECTIVE REGISTRATION STATEMENT UNDER THE ACT OR APPLICABLE STATE SECURITIES
LAWS.”


 


		10.	REGISTRATION RIGHTS



 


The Holder shall be entitled to
the registration rights as are contained in the Registration Rights Agreement of even date herewith, by and among the Company,
the Holder and the other subscribers of the Company’s securities pursuant to the Subscription Agreements, the provisions
of which are deemed incorporated herein by reference.


 


	11.	NOTICES




 


All notices, consents, waivers,
and other communications under this Warrant must be in writing and will be deemed given to a party when (a) delivered to the appropriate
address by hand or by nationally recognized overnight courier service (costs prepaid); (b) sent by facsimile or e-mail with confirmation
of transmission by the transmitting equipment; (c) received or rejected by the addressee, if sent by certified mail, return receipt
requested, if to the registered Holder hereof; or (d) seven days after the placement of the notice into the mails (first class
postage prepaid), to the Holder at the address, facsimile number, or e-mail address furnished by the registered Holder to the Company
in accordance with the Subscription Agreement by and between the Company and the Holder, or if to the Company, to it at:


 


GrowGeneration, Corp.


503 North Main Street, Suite 740


Pueblo, Colorado 81003


Attention: Darren Lampert,
Chief Executive Officer


 



    9


     


    

 


with copy to:


 


Robinson & Cole, LLP


1055 Washington Blvd.


Stamford, Ct. 06901


Attention: Mitchell L. Lampert, Esq.


Facsimile: (203) 462-7599


 


		12.	SEVERABILITY



 


If a court of competent jurisdiction
holds any provision of this Warrant invalid or unenforceable, the other provisions of this Warrant will remain in full force and
effect. Any provision of this Warrant held invalid or unenforceable only in part or degree will remain in full force and effect
to the extent not held invalid or unenforceable.


 


		13.	BINDING EFFECT



 


This Warrant shall be binding upon
and inure to the sole and exclusive benefit of the Company, its successors and assigns, the registered Holder or Holders from time
to time of this Warrant and the Warrant Shares.


 


		14.	SURVIVAL OF RIGHTS AND DUTIES



 


This Warrant shall terminate and
be of no further force and effect on the earlier of 5:00 P.M., Eastern Time, on the Expiration Date or the date on which this Warrant
has been exercised in full.


 


		15.	GOVERNING LAW



 


This Warrant will be governed by
and construed under the laws of the State of Colorado without regard to conflicts of laws principles that would require the application
of any other law.


 


		16.	DISPUTE RESOLUTION



 


In the case of a dispute as to
the determination of the Exercise Price or the arithmetic calculation of the Warrant Shares, the Company shall submit the disputed
determinations or arithmetic calculations via facsimile within two Business Days of receipt of the Notice of Exercise giving rise
to such dispute, as the case may be, to the Holder. If the Holder and the Company are unable to agree upon such determination or
calculation of the Exercise Price or the Warrant Shares within three Business Days of such disputed determination or arithmetic
calculation being submitted to the Holder, then the Company shall, within two Business Days, submit via facsimile (a) the disputed
determination of the Exercise Price to an independent, reputable investment bank selected by the Company and approved by the Holder
or (b) the disputed arithmetic calculation of the Warrant Shares to the Company’s independent, outside accountant. The Company
shall cause at its expense the investment bank or the accountant, as the case may be, to perform the determinations or calculations
and notify the Company and the Holder of the results no later than ten (10) Business Days from the time it receives the disputed
determinations or calculations. Such investment bank’s or accountant’s determination or calculation, as the case may
be, shall be binding upon all parties absent demonstrable error.


 






    10


     


    

  


		17.	NOTICES OF RECORD DATE



 


Upon (a) any establishment by the
Company of a record date of the holders of any class of securities for the purpose of determining the holders thereof who are entitled
to receive any dividend or other distribution, or right or option to acquire securities of the Company, or any other right, or
(b) any capital reorganization, reclassification, recapitalization, merger or consolidation of the Company with or into any other
corporation, any transfer of all or substantially all the assets of the Company, or any voluntary or involuntary dissolution, liquidation
or winding up of the Company, or the sale, in a single transaction, of a majority of the Company’s voting stock (whether
newly issued, or from treasury, or previously issued and then outstanding, or any combination thereof), the Company shall mail
to the Holder at least ten (10) Business Days, or such longer period as may be required by law, prior to the record date specified
therein, a notice specifying (i) the date established as the record date for the purpose of such dividend, distribution, option
or right and a description of such dividend, option or right, (ii) the date on which any such reorganization, reclassification,
transfer, consolidation, merger, dissolution, liquidation or winding up, or sale is expected to become effective and (iii) the
date, if any, fixed as to when the holders of record of Common Stock shall be entitled to exchange their shares of Common Stock
for securities or other property deliverable upon such reorganization, reclassification, transfer, consolation, merger, dissolution,
liquidation or winding up.


 


		18.	RESERVATION OF SHARES



 


The Company shall reserve and keep
available out of its authorized but unissued shares of Common Stock for issuance upon the exercise of this Warrant, free from pre-emptive
rights, such number of shares of Common Stock for which this Warrant shall from time to time be exercisable. The Company will take
all such reasonable action as may be necessary to assure that such Warrant Shares may be issued as provided herein without violation
of any applicable law or regulation. Without limiting the generality of the foregoing, the Company covenants that it will use commercially
reasonable efforts to take all such action as may be necessary or appropriate in order that the Company may validly and legally
issue fully paid and nonassessable Warrant Shares upon the exercise of this Warrant and use commercially reasonable efforts to
obtain all such authorizations, exemptions or consents, including but not limited to consents from the Company’s stockholders
or Board of Directors or any public regulatory body, as may be necessary to enable the Company to perform its obligations under
this Warrant.


 



    11


     


    

 





		19.	NO THIRD PARTY RIGHTS



 


This Warrant is not intended, and
will not be construed, to create any rights in any parties other than the Company and the Holder, and no person or entity may assert
any rights as third-party beneficiary hereunder.


 


IN WITNESS WHEREOF, the Company
has caused this Warrant to be duly executed as of the date first set forth above.


 


	 	GrowGeneration,
    Corp.
	 	 	 
	 	By:	
	 	Name:	Darren Lampert
	 	Title:	Chief Executive Officer






 






    12


     


    

 

EXHIBIT A


 


NOTICE OF EXERCISE


 


(To be executed by the Holder of Warrant if such Holder
desires to exercise Warrant)


 


To GrowGeneration, Corp.:


 


The
undersigned hereby irrevocably elects to exercise this Warrant and to purchase thereunder, ___________________ full shares of GrowGeneration,
Corp.common stock issuable upon exercise of the Warrant and delivery of $_________ (in cash as provided
for in the foregoing Warrant) and any applicable taxes payable by the undersigned pursuant to such Warrant; and


 


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


 


_________________________________________


(Please print name, address and social security or federal
employer

identification number (if applicable))


 


_________________________________________


 


_________________________________________


 


If the shares issuable upon this
exercise of the Warrant are not all of the Warrant Shares which the Holder is entitled to acquire upon the exercise of the Warrant,
the undersigned requests that a new Warrant evidencing the rights not so exercised be issued in the name of and delivered to:


 


_________________________________________


(Please print name, address and social security or federal
employer


identification number (if applicable))


 


_________________________________________


 


_________________________________________


 





	 	Name of Holder (print): 	 
	 	(Signature):	 	 
	 	(By:)  	 	 
	 	(Title:)	 	 
	 	Dated:	 	 


 






    


     

    

 


EXHIBIT B


 


FORM OF ASSIGNMENT


 


FOR VALUE RECEIVED, ___________________________________
hereby sells, assigns and transfers to each assignee set forth below all of the rights of the undersigned under the Warrant (as
defined in and evidenced by the attached Warrant) to acquire the number of Warrant Shares set opposite the name of such assignee
below and in and to the foregoing Warrant with respect to said acquisition rights and the shares issuable upon exercise of the
Warrant:


 


 


	Name of Assignee	Address	Number of Shares
	
         

         
	 	 
	
         

         
	 	 
	
         

         
	 	 
	
         

         
	 	 


 


If the total of the Warrant Shares
are not all of the Warrant Shares evidenced by the foregoing Warrant, the undersigned requests that a new Warrant evidencing the
right to acquire the Warrant Shares not so assigned be issued in the name of and delivered to the undersigned.


 





	 	Name of Holder (print): 	 
	 	(Signature):	 	 
	 	(By:)  	 	 
	 	(Title:)	 	 
	 	Dated: