Document:

EXHIBIT 10.4

SECURITIES PURCHASE AGREEMENT

This Securities
Purchase Agreement (this “Agreement”) is dated as of November 5, 2013, between NEW WESTERN ENERGY CORPORATION,
a Nevada corporation (the “Company”), and CARL WIKSTOM (the “Purchaser”).

WHEREAS, subject
to the terms and conditions set forth in this Agreement and pursuant to Section 4(a)(2) of the Securities Act of 1933, as amended
(the “Securities Act”), and Rule 506 promulgated thereunder, the Company desires to issue and sell to Purchaser,
and Purchaser, desires to purchase from the Company, securities of the Company as more fully described in this Agreement.

NOW, THEREFORE,
IN CONSIDERATION of the mutual covenants contained in this Agreement, and for other good and valuable consideration, the receipt
and adequacy of which are hereby acknowledged, the Company and each Purchaser agree as follows:

ARTICLE I. 

DEFINITIONS

1.1             
Definitions. In addition to the terms defined elsewhere in this Agreement: (a) capitalized
terms that are not otherwise defined herein have the meanings given to such terms in the Debentures (as defined herein), and (b)
the following terms have the meanings set forth in this Section 1.1:

“Closing”
means the closing of the purchase and sale of the Securities pursuant to Section 2.1.

“Closing
Date” means the Business Day on which all of the Transaction Documents have been executed and delivered by the applicable
parties thereto, and all conditions precedent to (i) the Purchasers’ obligations to pay the Subscription Amount and (ii)
the Company’s obligations to deliver the Securities, in each case, have been satisfied or waived.

“Commission”
means the United States Securities and Exchange Commission.

“Common
Stock” means the common stock of the Company, par value $0.0001 per share, and any other class of securities into which
such securities may hereafter be reclassified or changed.

“Debenture”
means the 10% Secured Debenture due, subject to the terms therein, October 31, 2015, issued by the Company to the Purchaser hereunder,
in the form of Exhibit A attached hereto.

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

 

“Exempt
Issuance” means the issuance of (a) shares of Common Stock or options to employees, officers or directors of the Company
pursuant to any stock or option plan duly adopted for such purpose, by a majority of the non-employee members of the Board

    	 

    	 

    

of Directors or a majority of
the members of a committee of non-employee directors established for such purpose, (b) securities upon the exercise or exchange
of or conversion of any Securities issued hereunder and/or other securities exercisable or exchangeable for or convertible into
shares of Common Stock issued and outstanding on the date of this Agreement, provided that such securities have not been amended
since the date of this Agreement to increase the number of such securities or to decrease the exercise price, exchange price or
conversion price of such securities, and (c) securities issued pursuant to acquisitions or strategic transactions approved by a
majority of the disinterested directors of the Company, provided that any such issuance shall only be to a Person (or to the equity
holders of a Person) which is, itself or through its subsidiaries, an operating company or an owner of an asset in a business synergistic
with the business of the Company and shall provide to the Company additional benefits in addition to the investment of funds, and
shall include transactions in which the Company is issuing securities primarily for the purpose of raising capital or to an entity
whose primary business is investing in securities.

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

“Person”
means an individual or corporation, partnership, trust, incorporated or unincorporated association, joint venture, limited liability
company, joint stock company, government (or an agency or subdivision thereof) or other entity of any kind.

“Principal
Amount” shall be $1,500,000 US.

“Required
Minimum” means, 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 Underlying Shares issuable upon exercise in full of all Warrants,
ignoring any exercise limits set forth therein.

“Rule
144” means Rule 144 promulgated by the Commission pursuant to the Securities Act, as such Rule may be amended from time
to time, or any similar rule or regulation hereafter adopted by the Commission having substantially the same effect as such Rule.

“Securities”
means the Debentures, the Warrants and the Warrant Shares.

“Securities
Act” means the Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder.

“Security
Documents” shall mean the UCC-1 Filings and Mortgages, and any other documents and filing required thereunder in order
to grant the Purchaser a first priority security interest in any assets of the Company, and its Subsidiaries, to be acquired with
the proceeds from the Debenture.

“Subscription
Amount” means $1,200,000US which is the aggregate amount to be paid for Debentures and Warrants
purchased hereunder as specified below the Purchaser’s name on the signature page of this Agreement and next to the heading
“Subscription Amount”.

    	 

    	 

    

“Transaction
Documents” means this Agreement, the Debenture and the Warrant Agreement, and any other documents or agreements executed
in connection with the transactions contemplated hereunder.

“Underlying
Shares” means the shares of Common Stock issued and issuable upon exercise of the Warrants..

“Warrants”
means, collectively, the Common Stock purchase warrants delivered to the Purchaser at the Closing in accordance with Section 2.2(a)
hereof, which Warrants shall be exercisable immediately and have a term of exercise equal to three (3) years, in the form of Exhibit B
attached hereto.

“Warrant
Shares” means the shares of Common Stock issuable upon exercise of the Warrants.

ARTICLE II. 

PURCHASE AND SALE

2.1             
Closing. On the Closing Date, upon the terms and subject to the conditions set forth
herein, substantially concurrent with the execution and delivery of this Agreement by the parties hereto, the Company agrees to
sell, and the Purchaser agrees to purchase a Debenture in the Principal Amount of $1,500,000 (corresponding to an aggregate Subscription
Amount of $1,200,000. The Purchaser shall deliver to the Company, via wire transfer or a certified check, immediately available
funds equal to such Purchaser’s Subscription Amount as set forth on the signature page hereto executed by such Purchaser,
and the Company shall deliver to the Purchaser its Debenture and a Warrant, as determined pursuant to Section 2.2(a), and the Company
and the Purchaser shall deliver the other items set forth in Section 2.2 deliverable at the Closing. Upon satisfaction of the covenants
and conditions set forth in Sections 2.2 and 2.3, the Closing shall occur at the offices of the Company or such other location
as the parties shall mutually agree.

2.2             
Deliveries.

(a)               
On or prior to the Closing Date, the Company shall deliver or cause to be delivered to each
Purchaser the following:

		(i)	this Agreement duly executed by the Company;

(ii)              
a Debenture with a Principal Amount of $1,500,000, registered in the name of the Purchaser
and

(iii)            
a Warrant registered in the name of the Purchaser to purchase 7,500,000 shares of Common Stock;
and

    	 	 	 

    	 

    

(b)              
On or prior to the Closing Date, the Purchaser shall deliver or cause to be delivered to
the Company, the following: 

		(i)	this Agreement duly executed by the Purchaser;

(ii)              
 the Purchaser’s Subscription Amount by wire transfer to the account specified in writing
by the Company; and

2.3             
 Closing Conditions. 

(a)                  
The obligations of the Company hereunder in connection with the Closing are subject to the
following conditions being met:

(i)                
the accuracy in all material respects on the Closing Date of the representations and warranties
of the Purchaser contained herein (unless as of a specific date therein in which case they shall be accurate as of such date);

(ii)              
all obligations, covenants and agreements of the Purchaser required to be performed at or
prior to the Closing Date shall have been performed; and

(iii)            
the delivery by the Purchaser of the items set forth in Section 2.2(b) of this Agreement.

(b)                 
The obligations of the Purchaser hereunder in connection with the Closing are subject to the
following conditions being met:

(i)             
the accuracy in all material respects when made and on the Closing Date of the representations
and warranties of the Company contained herein (unless as of a specific date therein);

(ii)           
all obligations, covenants and agreements of the Company required to be performed at or prior
to the Closing Date shall have been performed; 

(iii)         
the delivery by the Company of the items set forth in Section 2.2(a) of this Agreement; 

(iv)         
there shall have been no Material Adverse Effect with respect to the Company since the date
hereof.

 

    	 	 	 

    	 

    

ARTICLE III. 

REPRESENTATIONS AND WARRANTIES

3.1 
Representations and Warranties of the Company. Except
as set forth in the Disclosure Schedules, which Disclosure Schedules shall be deemed a part hereof and shall qualify any representation
or otherwise made herein to the extent of the disclosure contained in the corresponding section of the Disclosure Schedules, the
Company hereby makes the following representations and warranties to the Purchaser:

(a)               
Organization and Qualification. 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. 

(b)              
 Authorization; Enforcement. The Company has the requisite corporate power and authority
to enter into and to consummate the transactions contemplated by this Agreement and each of the other Transaction Documents and
otherwise to carry out its obligations hereunder and thereunder. The execution and delivery of this Agreement and each of 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 action on the part of the Company and no further action is required by the Company, the Board of Directors
or the Company’s stockholders in connection herewith or therewith other than in connection with the Required Approvals. 

(c)               
Issuance of the Securities. 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 nonassessable,
free and clear of all Liens imposed by the Company other than restrictions on transfer provided for in the Transaction Documents.
The Underlying Shares, when issued in accordance with the terms of the Transaction Documents, will be validly issued, fully paid
and nonassessable, free and clear of all Liens imposed by the Company other than restrictions on transfer provided for in the Transaction
Documents. The Company has reserved from its duly authorized capital stock a number of shares of Common Stock for issuance of the
Underlying Shares at least equal to the Required Minimum on the date hereof. 

(d)              
Title to Assets. The Company and the Subsidiaries have good and marketable title in
fee simple to all real property owned by them and good and marketable title in all personal property owned by them that is material
to the business of the Company and the Subsidiaries, in each case free and clear of all Liens, except for (i) Liens as do not materially
affect the value of such property and do not materially interfere with the use made and proposed to be made of such property by
the Company and the Subsidiaries and (ii) Liens for the payment of federal, state or other taxes, for which appropriate reserves
have been made therefore in accordance with GAAP and, the payment of which is neither delinquent nor subject to penalties. Any
real property and facilities held under lease by the Company and the Subsidiaries are held by them under valid, subsisting and
enforceable leases with which the Company and the Subsidiaries are in compliance.

    	 	 	 

    	 

    

(e)               
Certain Fees. To the best of its knowledge, no brokerage or finder’s fees or
commissions are or will be payable by the Company or any Subsidiaries to any broker, financial advisor or consultant, finder,
placement agent, investment banker, bank or other Person with respect to the transactions contemplated by the Transaction Documents.
The Purchasers shall have no obligation with respect to any fees or with respect to any claims made by or on behalf of other Persons
for fees of a type contemplated in this Section that may be due in connection with the transactions contemplated by the Transaction
Documents. 

 

(f)               
Private Placement. Assuming the accuracy of the Purchasers’ representations and
warranties set forth in Section 3.2, no registration under the Securities Act is required for the offer and sale of the Securities
by the Company to the Purchasers as contemplated hereby. The issuance and sale of the Securities hereunder does not contravene
the rules and regulations of the Trading Market.

(g)              
 Disclosure. 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 Purchaser or his agents or counsel with any information that it believes constitutes or might constitute material, non-public
information. The Company understands and confirms that the Purchaser will rely on the foregoing representation in effecting transactions
in securities of the Company. 

(h)              
Acknowledgment Regarding Purchasers’ Purchase of Securities. The Company acknowledges
and agrees that the Purchaser is acting solely in the capacity of an arm’s length purchaser with respect to the Transaction
Documents and the transactions contemplated thereby. The Company further acknowledges that the Purchaser is not acting as a financial
advisor or fiduciary of the Company (or in any similar capacity) with respect to the Transaction Documents and the transactions
contemplated thereby and any advice given by the Purchaser or any of his representatives or agents in connection with the Transaction
Documents and the transactions contemplated thereby is merely incidental to the Purchaser’s purchase of the Securities. .

(i)                
Money Laundering. The operations of the Company and its Subsidiaries are and have been
conducted at all times in compliance with applicable financial record-keeping and reporting requirements of the Currency and Foreign
Transactions Reporting Act of 1970, as amended, applicable money laundering statutes and applicable rules and regulations thereunder
(collectively, the “Money Laundering Laws”), and no action, suit or proceeding by or before any court or governmental
agency, authority or body or any arbitrator involving the Company or any Subsidiary with respect to the Money Laundering Laws is
pending or, to the knowledge of the Company or any Subsidiary, threatened.

    	 	 	 

    	 

    

3.2             
Representations and Warranties of the Purchaser. The Purchaser hereby represents and
warrants as of the date hereof and as of the Closing Date to the Company as follows (unless as of a specific date therein):

(a)               
Organization; Authority. The Purchaser is an individual with full right, power and
authority to enter into and to consummate the transactions contemplated by the Transaction Documents and otherwise to carry out
its obligations hereunder and thereunder. 

(b)              
Own Account. The Purchaser understands that the Securities are “restricted securities”
and have not been registered under the Securities Act or any applicable state securities law and is acquiring the Securities as
principal for its own account and not with a view to or for distributing or reselling such Securities or any part thereof in violation
of the Securities Act or any applicable state securities law

(c)               
Purchaser Status. At the time the Purchaser was offered the Securities, it was, and
as of the date hereof it is, and on each date on which it exercises any Warrants it will be an “accredited investor”
as defined in Rule 501(a)(1), (a)(2), (a)(3), (a)(7) or (a)(8) under the Securities Act.

(d)               Experience
of Such Purchaser. The Purchaser, either alone or together with its representatives, has such knowledge, sophistication
and experience in business and financial matters so as to be capable of evaluating the merits and risks of the
prospective investment in the Securities, and has so evaluated the merits and risks of such investment. The Purchaser is able
to bear the economic risk of an investment in the Securities and, at the present time, is able to afford a complete loss of
such investment.

The Company acknowledges and agrees that the
representations contained in Section 3.2 shall not modify, amend or affect the Purchaser’s right to rely on the Company’s
representations and warranties contained in this Agreement or any representations and warranties contained in any other Transaction
Document or any other document or instrument executed and/or delivered in connection with this Agreement or the consummation of
the transaction contemplated hereby.

 

ARTICLE IV. 

OTHER AGREEMENTS OF THE PARTIES

4.1             
Transfer Restrictions.

(a)               
The Securities may only be disposed of in compliance with state and federal securities laws.
In connection with any transfer of Securities other than pursuant to an effective registration statement or Rule 144, to the Company
or to an Affiliate of a Purchaser or in connection with a pledge as contemplated in Section 4.1(b), the Company may require the
transferor thereof to provide to the Company an opinion of counsel selected by the transferor and reasonably acceptable to the
Company, the form and substance of which opinion shall be reasonably satisfactory to the Company, to the effect that such transfer
does not require registration of such transferred Securities under the Securities Act. As a condition of transfer, any such transferee
shall agree in writing to be bound by the terms of this Agreement.

    	 	 	 

    	 

    

(b)              
The Purchaser agrees to the imprinting, so long as is required by this Section 4.1, of a
legend on any of the Securities in the following form:

 

[NEITHER] THIS SECURITY [NOR THE
SECURITIES INTO WHICH THIS SECURITY IS [EXERCISABLE] HAS [NOT] BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION OR THE
SECURITIES COMMISSION OF ANY STATE IN RELIANCE UPON AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT OF 1933, AS AMENDED
(THE “SECURITIES ACT”), AND, ACCORDINGLY, MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT
UNDER THE SECURITIES ACT OR PURSUANT TO AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS
OF THE SECURITIES ACT AND IN ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS AS EVIDENCED BY A LEGAL OPINION OF COUNSEL TO THE
TRANSFEROR TO SUCH EFFECT, THE SUBSTANCE OF WHICH SHALL BE REASONABLY ACCEPTABLE TO THE COMPANY. THIS SECURITY [AND THE SECURITIES
ISSUABLE UPON [EXERCISE] OF THIS SECURITY] MAY BE PLEDGED IN CONNECTION WITH A BONA FIDE MARGIN ACCOUNT WITH A REGISTERED BROKER-DEALER
OR OTHER LOAN WITH A FINANCIAL INSTITUTION THAT IS AN “ACCREDITED INVESTOR” AS DEFINED IN RULE 501(a) UNDER THE SECURITIES
ACT OR OTHER LOAN SECURED BY SUCH SECURITIES.

The Company
acknowledges and agrees that the Purchaser may from time to time pledge pursuant to a bona fide margin agreement with a registered
broker-dealer or grant a security interest in some or all of the Securities to a financial institution that is an “accredited
investor” as defined in Rule 501(a) under the Securities Act and who agrees to be bound by the provisions of this Agreement,
if required under the terms of such arrangement, such Purchaser may transfer pledged or secured Securities to the pledgees or secured
parties. Such a pledge or transfer would not be subject to approval of the Company and no legal opinion of legal counsel of the
pledgee, secured party or pledgor shall be required in connection therewith. Further, no notice shall be required of such pledge.
At the appropriate Purchaser’s expense, the Company will execute and deliver such reasonable documentation as a pledgee or
secured party of Securities may reasonably request in connection with a pledge or transfer of the Securities, including, if the
Securities are subject to registration, the preparation and filing of any required prospectus supplement under Rule 424(b)(3) under
the Securities Act or other applicable provision of the Securities Act to appropriately amend the list of Selling Stockholders.

    	 	 	 

    	 

    

4.2Furnishing of Information;
Public Information.

(c)               
If the Common Stock is not registered under Section 12(b) or 12(g) of the Exchange Act on
the date hereof, the Company agrees to cause the Common Stock to be registered under Section 12(g) of the Exchange Act on or before
the 60th calendar day following the date hereof. Until the earliest of the time that no Purchaser owns Securities, the
Company covenants to maintain the registration of the Common Stock under Section 12(b) or 12(g) of the Exchange Act and to timely
file (or obtain extensions in respect thereof and file within the applicable grace period) all reports required to be filed by
the Company after the date hereof pursuant to the Exchange Act even if the Company is not then subject to the reporting requirements
of the Exchange Act. 

		(c)	Exercise Procedures. The form of Notice of Exercise included
in the Warrants set forth the totality of the procedures required of the Purchaser in order to exercise the Warrants. Without limiting
the preceding sentences, no ink-original Notice of Exercise shall be required, nor shall any medallion guarantee (or other type
of guarantee or notarization) of any Notice of Exercise form be required in order to exercise the Warrants. No additional legal
opinion, other information or instructions shall be required of the Purchaser to exercise his Warrants. The Company shall honor
exercises of the Warrants and shall deliver Underlying Shares in accordance with the terms, conditions and time periods set forth
in the Transaction Documents.

ARTICLE V. 

MISCELLANEOUS

5.1             
Termination.  This Agreement may be terminated by the Purchaser, as to such Purchaser’s
obligations hereunder only and without any effect whatsoever on the obligations between the Company and the other Purchasers, by
written notice to the other parties, if the Closing has not been consummated on or before November 15, 2013; provided, however,
that such termination will not affect the right of any party to sue for any breach by any other party (or parties).

5.2             
 Entire Agreement. The Transaction Documents, together with the exhibits and schedules
thereto, contain the entire understanding of the parties with respect to the subject matter hereof and thereof 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.

5.3 
 Notices. Any notice delivered personally or by courier under this Section 5.3 shall
be deemed given on the date delivered. Any notice sent by telecopy or registered or certified mail, postage prepaid, return receipt
requested, shall be deemed given on the date telecopied or mailed.

    	 	 	 

    	 

    

5.4             
Amendments; Waivers. No provision of this Agreement may be waived, modified, supplemented
or amended except in a written instrument signed, in the case of an amendment, by the Company and the Purchaser or, in the case
of a waiver, by the party against whom enforcement of any such waived provision is sought. No waiver of any default with respect
to any provision, condition or requirement of this Agreement shall be deemed to be a continuing waiver in the future or a waiver
of any subsequent default or a waiver of any other provision, condition or requirement hereof, nor shall any delay or omission
of any party to exercise any right hereunder in any manner impair the exercise of any such right.

5.5             
Headings. The headings herein are for convenience only, do not constitute a part of
this Agreement and shall not be deemed to limit or affect any of the provisions hereof.

5.6             
Successors and Assigns. This Agreement shall be binding upon and inure to the benefit
of the parties and their successors and permitted assigns. The Company may not assign this Agreement or any rights or obligations
hereunder without the prior written consent of the Purchaser (other than by merger). The Purchaser may assign any or all of its
rights under this Agreement to any Person to whom the Purchaser assigns or transfers any Securities, provided that such transferee
agrees in writing to be bound, with respect to the transferred Securities, by the provisions of the Transaction Documents that
apply to the “Purchaser.”

5.7             
Governing Law. All questions concerning the construction, validity, enforcement and
interpretation of the Transaction Documents shall be governed by and construed and enforced in accordance with the internal laws
of the State of California, without regard to the principles of conflicts of law thereof. Each party agrees that all legal proceedings
concerning the interpretations, enforcement and defense of the transactions contemplated by this Agreement and any other Transaction
Documents (whether brought against a party hereto or its respective affiliates, directors, officers, shareholders, partners, members,
employees or agents) shall be commenced exclusively in the state and federal courts sitting in the City of Irvine. Each party
hereby irrevocably submits to the exclusive jurisdiction of the state and federal courts sitting in the City of Irvine, Orange
County for the adjudication of any dispute hereunder or in connection herewith or with any transaction contemplated hereby or
discussed herein (including with respect to the enforcement of any of the Transaction Documents), and hereby irrevocably waives,
and agrees not to assert in any suit, action or proceeding, any claim that it is not personally subject to the jurisdiction of
any such court, that such suit, action or proceeding is improper or is an inconvenient venue for such proceeding. Each party hereby
irrevocably waives personal service of process and consents to process being served in any such suit, action or proceeding by
mailing a copy thereof via registered or certified mail or overnight delivery (with evidence of delivery) to such party at the
address in effect for notices to it under this Agreement and agrees that such service shall constitute good and sufficient service
of process and notice thereof. Nothing contained herein shall be deemed to limit in any way any right to serve process
in any other manner permitted by law. If either party shall commence an action, suit or proceeding to enforce any provisions of
the Transaction Documents, then, the prevailing party in such action, suit or proceeding shall be reimbursed by the other party
for its reasonable attorneys’ fees and other costs and expenses incurred with the investigation, preparation and prosecution
of such action or proceeding.

5.8             
Survival. The representations and warranties contained herein shall survive the Closing
and the delivery of the Securities.

    	 	 	 

    	 

    

5.9             
Execution. This Agreement may be executed in two or more counterparts, all of which
when taken together shall be considered one and the same agreement and shall become effective when counterparts have been signed
by each party and delivered to each other party, it being understood that the parties need not sign the same counterpart. 

5.10         
Severability. If any term, provision, covenant or restriction of this Agreement is
held by a court of competent jurisdiction to be invalid, illegal, void or unenforceable, the remainder of the terms, provisions,
covenants and restrictions set forth herein shall remain in full force and effect and shall in no way be affected, impaired or
invalidated, and the parties hereto shall use their commercially reasonable efforts to find and employ an alternative means to
achieve the same or substantially the same result as that contemplated by such term, provision, covenant or restriction. 

5.11         
Replacement of Securities. If any certificate or instrument evidencing any Securities
is mutilated, lost, stolen or destroyed, the Company shall issue or cause to be issued in exchange and substitution for and upon
cancellation thereof (in the case of mutilation), or in lieu of and substitution therefore, a new certificate or instrument, but
only upon receipt of evidence reasonably satisfactory to the Company of such loss, theft or destruction. 

5.12         
Remedies. In addition to being entitled to exercise all rights provided herein or granted
by law, including recovery of damages, the Purchaser and the Company will be entitled to specific performance under the Transaction
Documents. The parties agree that monetary damages may not be adequate compensation for any loss incurred by reason of any breach
of obligations contained in the Transaction Documents and hereby agree to waive and not to assert in any action for specific performance
of any such obligation the defense that a remedy at law would be adequate. 

5.13         
Construction. The parties agree that each of them and/or their respective counsel have
reviewed and had an opportunity to revise the Transaction Documents and, therefore, the normal rule of construction to the effect
that any ambiguities are to be resolved against the drafting party shall not be employed in the interpretation of the Transaction
Documents or any amendments thereto. In addition, each and every reference to share prices and shares of Common Stock in any Transaction
Document shall be subject to adjustment for reverse and forward stock splits, stock dividends, stock combinations and other similar
transactions of the Common Stock that occur after the date of this Agreement.

5.14         
WAIVER OF JURY TRIAL. IN ANY ACTION, SUIT, OR PROCEEDING IN ANY JURISDICTION BROUGHT
BY ANY PARTY AGAINST ANY OTHER PARTY, THE PARTIES EACH KNOWINGLY AND INTENTIONALLY, TO THE GREATEST EXTENT PERMITTED BY APPLICABLE
LAW, HEREBY ABSOLUTELY, UNCONDITIONALLY, IRREVOCABLY AND EXPRESSLY WAIVES FOREVER TRIAL BY JURY. 

    	 	 	 

    	 

    

ARTICLE VI

DEBT CONSOLIDATION

 

6.1 The Purchaser agrees to cancel
that certain 10% Promissory Note dated May 21, 2013 in the amount of $300,000, due December 31, 2013, payable by the Company to
the Purchaser (the “Old Note”) and to consolidate the amount of the Old Note with and into the Debenture for a total
amount of $1,500,000 to be owing the Purchaser by the Company. Upon the Closing and the delivery of the Debenture to the Purchaser,
the Purchaser herby releases the Company from any liability for the payment of the Old Note.

IN WITNESS WHEREOF,
the parties hereto have caused this Securities Purchase Agreement to be duly executed by their respective authorized signatories
as of the date first indicated above.

	  NEW WESTERN ENERGY CORPORATION     By: /s/ Javan Khazali_________      Name: Javan Khazali      Title: CEO & President   CARL WIKSTROM   By  /s/ Carl Wikstrom_______      Name: Carl Wikstrom      Address for Notice:      Orrspelsvagen 2h      Stocksund, S-18279, Sweden      	  Address for Notice: 1140 Spectrum Irvine, CA 92618 Fax: 818-223-8303

Subscription Amount: $1,200,000

 

Principal Amount: $1,500,000

 

Warrant Shares: 7,500,000Unassociated Document

EXHIBIT 10.1

 

 

THIS CONVERTIBLE PROMISSORY NOTE (THE “NOTE”) HAS NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE "ACT"), OR ANY STATE OR OTHER SECURITIES LAWS.  NEITHER THIS NOTE NOR ANY INTEREST OR PARTICIPATION HEREIN MAY BE REOFFERED, SOLD, ASSIGNED, TRANSFERRED, PLEDGED, ENCUMBERED OR OTHERWISE DISPOSED OF IN THE ABSENCE OF SUCH REGISTRATION, UNLESS THE TRANSACTION IS EXEMPT FROM, OR NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE ACT OR THE TRANSACTION IS IN COMPLIANCE WITH THE PROVISIONS OF REGULATION S OF THE ACT  ("REGULATION S").  HEDGING TRANSACTIONS INVOLVING THIS SECURITY MAY NOT BE CONDUCTED UNLESS IN COMPLIANCE WITH THE ACT.  THE HOLDER OF THIS NOTE BY ITS ACCEPTANCE HEREOF REPRESENTS THAT IT IS NOT A U.S. PERSON AND IS ACQUIRING THIS SECURITY IN AN OFFSHORE TRANSACTION PURSUANT TO RULE 903 OR 904 OF REGULATION S.

 

14% PROMISSORY NOTE AND WARRANTS

 

 

	$250,000	  November 14, 2013

 

For Value Received, AntriaBio, Inc., a Delaware limited liability company (“Borrower”), hereby promises to pay to the order of Konus Advisory Group, Inc., (“Lender”), in lawful money of the United States of America and in immediately available funds, the principal sum of up to Two Hundred and Fifty Thousand Dollars ($250,000), with interest on the outstanding principal amount at the rate of fourteen percent (14%) per annum.  Interest on the principal sum shall commence with the date hereof and shall continue on the outstanding principal until paid in full as provided below.  Borrower may, from the date hereof until March 1, 2014, request funds from Lender under this Note in minimum increments of $10,000 up to a total of $250,000.

 

1.      Payment.  At any time on or after November 1, 2014 (the “Maturity Date”), if this Note has not been paid in full, the Lender may elect at its option to demand payment of the entire outstanding principal balance and all unpaid accrued interest; provided, further, that in the event that Borrower closes an equity financing raising at least $3,000,000, then all amounts then outstanding under this Note including unpaid and accrued interest, shall become due and payable with 10 business days of the closing of such financing.  All amounts payable hereunder shall be payable to Lender at the address specified in writing by Lender.  Payment on this Note shall be applied first to accrued interest, and thereafter to the outstanding principal balance hereof.  Notwithstanding any term to the contrary, Borrower may pay off this Note and all interest then due at any time.

 

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2.      Interest.  The Notes will bear interest at an annual rate of 14%. Interest payments will payable annually in arrears.

 

3.      Warrant. For each dollar of principal loaned, the Borrower will be issued one (1) Warrant to purchase one (1) restricted share of common stock at an exercise price equal to $1.25 per share. The Warrants will be exercisable in whole or in part at any time for a period of five (5) years from the date of issuance.

 

4.      Waiver.  Borrower waives presentment and demand for payment, notice of dishonor, protest and notice of protest of this Note, and shall pay all costs of collection when incurred, including, without limitation, reasonable attorneys’ fees, costs and other expenses.  The right to plead any and all statutes of limitations as a defense to any demands hereunder is hereby waived to the full extent permitted by law.

 

5.      Governing Law.  This Note shall be governed by, and construed and enforced in accordance with, the laws of the State of Colorado, excluding conflict of laws principles that would cause the application of laws of any other jurisdiction.

 

6.      Amendment and Waiver.  Any term of this Note may be amended or waived with the written consent of Borrower and Lender.

 

7.      Transfer of Note.  By accepting this Note, Lender hereby covenants with Borrower as follows: 

 

(a)      Lender will not, directly or indirectly, offer, sell, pledge, transfer or otherwise dispose of (or solicit any offers to buy, purchase or otherwise acquire or take a pledge of) this Note except in compliance with the Act, applicable blue sky laws, and the rules and regulations promulgated thereunder.

 

(b)      Lender agrees that Lender will not effect any disposition of this Note that would constitute a sale within the meaning of the Act, except: (i) pursuant to the provisions of Regulation S under the Act; (ii) pursuant to registration under the Act; or (iii) in a transaction exempt from registration under the Act, in which case Lender shall, prior to effecting such disposition, submit to the Borrower an opinion of counsel in form and substance reasonably satisfactory to the Borrower to the effect that the proposed transaction is in compliance with the Act.  Purchaser further agrees not to engage in hedging transactions with regard to this Note unless in compliance with the Act.

 

(c)      Lender hereby agrees not to sell, dispose of, transfer, make any short sale of, grant any option for the purchase of, or enter into any hedging or similar transaction with the same economic effect as a sale with respect to, this Note or other securities of the Borrower held by Lender (the “Restricted Securities”), for a period of time specified by the managing underwriter (not to exceed one hundred eighty (180) days) following the effective date of a registration statement of the Borrower filed under the Act.  Lender agrees to execute and deliver such other agreements as may be reasonably requested by the Borrower and/or the managing underwriter which are consistent with the foregoing or which are necessary to give further effect thereto.  In order to enforce the foregoing covenant, the Borrower may impose stop-transfer instructions with respect to Lender’s Restricted Securities until the end of such period. The

 

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underwriters of the Borrower’s stock are intended third party beneficiaries of this paragraph and shall have the right, power and authority to enforce the provisions hereof as though they were a party hereto.

 

(d)      Upon compliance with any and all restrictions as described in this Section 7, this Note may be transferred only upon surrender of the original Note for registration of transfer, duly endorsed, or accompanied by a duly executed written instrument of transfer in form satisfactory to the Borrower.  Thereupon, a new Note for like principal amount and interest will be issued to, and registered in the name of, the transferee.  Interest and principal are payable only to the registered holder of the Note.

 

8.      Successors and Assigns.  The provisions of this Note shall inure to the benefit of and be binding on any successor to Borrower and shall extend to any holder hereof.

 

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In Witness Whereof, the Borrower has executed this Note as of the date first written above.

 

 

	 	BORROWER
	 	 
	 	AntriaBio, Inc.
	 	 
	 	By: /s/ Steve Howe          
	 	 
	 	Name: Steve Howe
	 	 
	 	Title: Executive Chairman

 

 

 

 

                                           

                                                      

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