Exhibit 4.9


 


WARRANT TO PURCHASE STOCK


 


Company: VG Life Sciences,
Inc.


Number of Shares: 200,000


Class of Stock: Common


Initial Exercise Price Per Share: $0.45


Issue Date: May 14, 2015


 


THIS
WARRANT CERTIFIES THAT, for the agreed upon value of $1.00 and for other good and valuable consideration, Hock Tiam Tay, (“Holder”)
is entitled to purchase the number of fully paid and nonassessable shares of the class of securities (the “Shares”)
of VG Life Sciences, Inc. (the “Company” or “VGLS”) at the initial exercise price per Share (the “Warrant
Price”) all as set forth above and as adjusted pursuant to Article 2 of this Warrant, subject to the provisions and upon
the terms and conditions set forth of this Warrant.


 


ARTICLE 1. EXERCISE


 


1.1          Method
of Exercise. Holder may exercise this Warrant by delivering a duly executed Notice of Exercise in substantially the form attached
as Appendix 1 to the principal office of the Company. Unless Holder is exercising the conversion right set forth in Section 1.2,
Holders shall also deliver to the Company a check for the aggregate Warrant Price for the Shares being purchased.


 


1.2          Conversion
Right. In lieu of exercising this Warrant as specified in Section 1.1, Holder may from time to time convert this Warrant,
in whole or in part, into a number of Shares determined by dividing (a) the aggregate fair market value of the Shares or other
securities otherwise issuable upon exercise of this Warrant minus the aggregate Warrant Price of such Shares by (b) the fair market
value of one Share. The fair market value of the Shares shall be determined pursuant Section 1.4.


 


1.3          No
Rights Shareholder. This Warrant does not entitle Holder to any voting rights as a shareholder of the company prior to the
exercise hereof.


 


1.4          Fair
Market Value. For purposes of Section 1.2, if the Shares are traded in a public market, the fair market value of the Shares
shall be the closing price of the Shares (or the closing price of the Company’s stock into which the Shares are convertible)
reported for the business day immediately before Holder delivers its Notice of Exercise to the Company. If the Shares are not
traded in a public market, the Board of Directors of the Company shall determine fair market value in its reasonable good faith
judgment. The foregoing notwithstanding, if Holder advises the Board of Directors in writing that Holder disagrees with such determination,
then the Company and Holder shall promptly agree upon a reputable investment banking or public accounting firm to undertake such
valuation. If the valuation of such investment banking firm is greater than that determined by the Board of Directors, then all
fees and expenses of such investment banking firm shall be paid by the company. In all other circumstances, such fees and expenses
shall be paid by Holder.


 






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1.5          Delivery
of Certificate and New Warrant. Promptly after Holder exercises or converts this Warrant, the Company shall deliver to Holder
certificates for the Shares acquired and, if this Warrant has not been fully exercised or converted and has not been fully exercised
or converted and has not expired, a new Warrant representing the Shares not so acquired.


 


1.6          Replacement
of Warrants. On receipt of evidence reasonably satisfactory to the Company of the loss, theft, destruction or mutilation of
this Warrant and, in the case of loss, theft or destruction, on delivery of an indemnity agreement reasonably satisfactory in
form and amount to the Company or, in the case of mutilation, or surrender and cancellation of this Warrant, the Company at its
expense shall execute and deliver, in lieu of this Warrant, a new warrant of like tenor.


 


1.7          Repurchase
on Sale, Merger, or Consolidation of the Company


 


1.7.1 
“Acquisition”  For the purpose of this Warrant, “Acquisition” means (a) the closing of the sale, transfer
or other disposition of all or substantially all of the VGLS’s assets, (b) the consummation of the merger or consolidation
of VGLS with or into another entity (except a merger or consolidation in which the holders of capital stock of VGLS immediately
prior to such merger or consolidation continue to hold at least fifty percent (50%) of the voting power of the capital stock of
VGLS or the surviving or acquiring entity), or any transaction or series of transactions to which VGLS is a party in which in excess
of fifty percent (50%) of VGLS’s voting power is transferred, or (c) the exclusive license of all or substantially all of
the intellectual property of VGLS to a third party.


 


1.7.2 Assumption
of Warrant. Upon the closing of any Acquisition the successor entity shall assume the obligations of this Warrant, and this
Warrant shall be exercisable for the same securities, cash, and property as would be payable for the Shares issuable upon exercise
of the unexercised portion of this Warrant as if such Shares were outstanding on the record date for the Acquisition and subsequent
closing. The Warrant Price shall be adjusted accordingly.


 


1.7.3 Purchase
Right. Notwithstanding the foregoing, at the election of Holder, the Company shall purchase the unexercised portion of this
Warrant for cash upon the closing of any Acquisition for an amount equal to (a) the fair market value of any consideration that
would have been received by Holder in consideration of the Shares had Holder exercised the unexercised portion of this Warrant
immediately before the record date for determining the shareholders entitled to participate in the proceeds of the Acquisition,
less (b) the aggregate Warrant Price of the Shares, but in no event less than zero.


 






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ARTICLE 2. ADJUSTMENTS TO THE SHARES.


 


2.1          Stock
Dividends, Splits, Etc. If the Company declares or pays a dividend on its common stock (or the Shares if the Shares are
securities other than common stock ) payable in common stock, or other securities, subdivides the outstanding common stock
into a greater amount of common stock, or, if the Shares are securities other than common stock, subdivides the Shares in a
transaction that increases the amount of common stock into which the Shares are convertible, then upon exercise of this
Warrant, for each Share acquired, Holder shall receive, without cost to Holder, the total number and kind of securities to
which Holder would have been entitled had Holder owned the Shares of record as of the date the dividend or subdivision
occurred.


 


2.2          Reclassification,
Exchange or Substitution. Upon any reclassification, exchange, substitution, or other event that results in a change of the
number and/or class of the securities issuable upon exercise or conversion of this Warrant, Holder shall be entitled to receive,
upon exercise or conversion of this Warrant, the number and kind of securities and property that Holder would have received for
the shares if this Warrant had been exercised immediately before such reclassification, exchange, substitution, or other event.
Such an event shall include any automatic conversion of the outstanding or issuable securities of the Company of the same class
or series as the Shares to common stock pursuant to the terms of the Company’s Certificate of Incorporation upon the closing
of a registered public offering of the Company’s common stock. The Company or its successor shall promptly issue to Holder
a new Warrant for such new securities or other property. The new adjustments provided for in this Article 2 including, without
limitation, adjustments to the Warrant Price and to the number of securities or property issuable upon exercise of the new Warrant.
The provisions of this Section 2.2 shall similarly apply to successive reclassifications, exchanges, substitutions, or other events.


 


2.3          Adjustments
for Combinations, Etc. If the outstanding Shares are combined or consolidated, by reclassification or otherwise, into a lesser
number of shares, the Warrant price shall be proportionately increased.


 


2.4          Adjustments
for Diluting Issuances. The number of shares of common stock issuable upon conversion of the Shares, shall be subject to adjustment,
from time to time in the manner set forth in the Company’s Certificate of Incorporation with respect to issuance of securities
for a price lower than certain prices specified in the Certificate of Incorporation.


 


2.5          No
Impairment. The Company shall not, by amendment of its Certificate of Incorporation or through a 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 under this Warrant by the Company, but shall at
all times in good faith assist in carrying out of all the provisions of this Article 2 and in taking all such action as may be
necessary or appropriate to protect Holder’s rights under this Article against impairment. If the Company takes any action
affecting the Shares or its common stock other than as described above that adversely affects Holder’s rights under this
Warrant, the Warrant Price shall be adjusted downward and the number of Shares issuable upon exercise of this Warrant shall be
adjusted upward in such a manner that the aggregate Warrant price of this Warrant is unchanged.


 


2.6          Fractional
Shares.  No fractional Shares shall be issuable upon exercise or conversion of the Warrant and the number of Shares to
be issued shall be rounded down to the nearest whole Share. If a fractional share interest arises upon any exercise or
conversion of the Warrant, the Company shall eliminate such fractional share interest by paying Holder amount computed by
multiplying the fractional interest by the fair market value of a full Share.


 






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2.7          Certificate
as to Adjustments. Upon each adjustment of the Warrant Price, the Company at its expense shall promptly compute such
adjustment, and furnish Holder with a certificate of its Chief Financial officer setting forth such adjustment and the facts
upon which such adjustment is based. The Company shall, upon written request, furnish Holder a certificate setting forth the
Warrant price in effect upon the date thereof and the series of adjustments leading to such Warrant Price.


 





ARTICLE 3. REPRESENTATIONS
AND COVENANTS OF THE COMPANY.


 


3.1          Representations
and Warranties. The Company hereby represents and warrants to the Holder that all Shares which may be issued upon the exercise
of the purchase right represented by this Warrant and all securities, if any, issuable upon conversion of the Shares, shall, upon
issuance, be duly authorized, validly issued, fully paid and nonassessable, and free of any liens and encumbrances except for
restrictions on transfer provided for herein or under applicable federal and state securities laws.


 


3.2          Notice
of Certain Events. If the company proposes at any time (a) to declare any dividend or distribution upon its common stock,
whether in cash, property, stock or other securities and whether or not a regular cash dividend; (b) to offer for subscription
pro rata to the holders of any class or series or other rights; (c) to effect any reclassification or recapitalization of common
stock; (d) to merge or consolidate with or into any other corporation, or sell, lease, license, or convey all or substantially
all of its assets, or to liquidate, dissolve or wind up; or (e) offer holders of registration rights the opportunity to participate
in an underwritten public offering of the company’s securities for cash, then, in connection with each such event, the Company
shall give Holder (1) at least 20 days prior written notice of the date on which a record will be taken for such dividend, distribution
or subscription rights (and specifying the date on which the holders of common stock will be entitled thereto) or for determining
rights to vote, if any, in respect of the matters referred to in (c) and (d) above; 2 in the case of the matters referred to in
(c) and (d) above at least 20 days prior written notice of the date when the same will take place (and specifying the date on
which the holders of common stock will be entitled to exchange their common stock for securities or other property deliverable
upon the occurrence of such event); and (3) in the case of the matter referred to in (e) above, the same notice as is given to
the holders of such registration rights.


 


3.3          Information
Rights. So long as the Holder holds this Warrant and /or any of the Shares, the Company shall deliver to the Holder (a) promptly
after mailing, copies of all notices or other written communications to the shareholders of the Company, (b) within ninety (90)
days after the end of each fiscal year of the Company, the annual financial statements of the Company.


 


3.4          Registration
Under Securities Act of 1933, as amended.  The Company agrees that the Shares shall be subject to the registration rights
granted to any other holders of the Company’s common stock.


 






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ARTICLE 4. MISCELLANEOUS.


 


4.1          Term.
This Warrant is exercisable, in whole or in part, at any time and from time to time on or after the fourth anniversary of the Issue
Date hereof and up to and including the fifth anniversary of the Issue Date.


 


4.2          Legends. This Warrant and the Shares (and the securities issuable, directly or indirectly, upon conversion of the Shares, if any)
shall be imprinted with a legend in substantially the following form:


 


THIS SECURITY HAS NOT BEEN REGISTERED
UNDER THE SECURITIES ACT OF 1933, AS AMENDED, AND MAY NOT BE SOLD, PLEDGED OR OTHERWISE TRANSFERRED WITHOUT AN EFFECTIVE REGISTRATION
THEREOF UNDER SUCH ACT OR PURSUANT TO RULE 144 OR AN OPINION OF COUNSEL REASONABLY SATISFACTORY TO THE CORPORATION AND ITS COUNSEL
THAT SUCH REGISTRATION IS NOT REQUIRED.


 


4.3          Compliance
with Securities Laws on Transfer. This Warrant and the Shares issuable upon exercise this Warrant (and the securities issuable
, directly or indirectly, upon conversion of the shares, if any) may not be transferred or assigned in whole or in part without
compliance with limitation, the delivery of investment representation letters and legal opinions reasonably satisfactory to the
Company, as reasonable requested by the Company). The Company shall not require Holder to provide an opinion of counsel if the
transfer is to an affiliate of Holder or if there is no material question as to the availability of current information as referenced
in rule 144(c), Holder represents that it has complied with Rule 144(d) and (e) in reasonable detail, the selling broker represents
that it has complied with Rule 144(f), and the Company is provided with a copy of Holder’s notice of proposed sale.


 


4.4          Transfer
Procedure. Subject to the provisions of Section 4.2, Holder may transfer all or part of this Warrant or the Shares issuable
upon exercise of this Warrant (or the securities issuable, directly or indirectly, upon conversion of the Shares, if any) by giving
the Company notice of the portion of the Warrant being transferred setting forth the name, address and taxpayer identification
number of the transferee and surrendering this Warrant to the company for reissuance to the transferee(s) (and Holder if applicable).


 


4.5          Notices.
All notices and other communications from the Company to the Holder, or vice versa, shall be deemed delivered and effective
when given personally or mailed by first- class registered or certified mail, postage prepaid, at such address as may have
been furnished to the Company or the Holder, as the case may be, in writing by the Company or such holder from time to
time.


 






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4.6          Waiver.
This Warrant and any term hereof may be changed, waived, discharged or terminated only by an instrument in writing signed by the
party against which enforcement of such change, waiver, discharge or termination is sought.


 


4.7          Attorneys
Fees. In the event of any dispute between the parties concerning the terms and provisions of this Warrant , the party prevailing
in such dispute shall be entitled to collect from the other party all costs incurred in such dispute, including reasonable attorney’s
fees.


 


4.8          Governing
Law. This Warrant shall be governed by and construed in accordance with the laws of the State of California, without giving
effect to its principles regarding conflicts of law.


 


 


 


 


/s/
John P. Tynan


By: John P. Tynan


Title: President & CEO


 






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APPENDIX 1


 


 


 


NOTICE OF EXERCISE


 


 


 


 


1.          The
undersigned hereby elects to convert the attached Warrant into in the manner specified in the Warrant. This conversion is exercised
with respect to ____________ of the Shares covered by the Warrant.


 


 


 


 


2.          Please issue a certificate
or certificates representing said shares in the name of the undersigned or in such other name as is specified below:


 


 


__________________________________


(Name)


 


__________________________________


 


__________________________________


(Address)


 


3.          The undersigned
represents it is acquiring the shares solely for its own account and not as a nominee for any other party and not with a view toward
the resale or distribution thereof except in compliance with applicable securities laws.


 


	__________________________________	__________________________________
	(Date)	(Signature)
	 	 











 


 






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