Document:

Exhibit 4.2 

 

SECURITIES
PURCHASE AGREEMENT

This
SECURITIES PURCHASE AGREEMENT (the “Agreement”), dated as of August 9, 2021, by and between ADHERA THERAPEUTICS
INC, a Delaware corporation, with headquarters located at 8000 Innovation Parkway, Baton Rouge, LA 70820 (the “Company”)
and SE HOLDINGS, LLC, with its address at 6130 W. Flamingo Rd. #1878, Las Vegas, NV 89103, (the “Buyer”).

 

WHEREAS:

 

A.       The
Company and the Buyer are executing and delivering this Agreement in reliance upon the exemption from securities registration afforded
by the rules and regulations as promulgated by the United States Securities and Exchange Commission (the “SEC”) under the
Securities Act of 1933, as amended (the “1933 Act”);

 

B.       Buyer
desires to purchase and the Company desires to issue and sell, upon the terms and conditions set forth in this Agreement a 10% convertible
note of the Company, in the form attached hereto as Exhibit A in the aggregate principal amount of $220,500.00 (together with any note(s)
issued in replacement thereof or as a dividend thereon or otherwise with respect thereto in accordance with the terms thereof, the “Note”),
convertible into shares of common stock, of the Company (the “Common Stock”), upon the terms and subject to the limitations
and conditions set forth in such Note. The Note shall contain an original issue discount of $10,500.00 such that the purchase price of
the Note shall be $210,000.00.

 

C.       The
Buyer wishes to purchase, upon the terms and conditions stated in this Agreement, such principal amount of Note as is set forth immediately
below its name on the signature pages hereto; and

 

NOW
THEREFORE, the Company and the Buyer severally (and not jointly) hereby agree as follows:

 

1.       Purchase
and Sale of Note.

 

a.       Purchase
of Note. On the Closing Date (as defined below), the Company shall issue and sell to the Buyer and the Buyer agrees to purchase from
the Company such principal amount of Note as is set forth immediately below the Buyer’s name on the signature pages hereto.

 

_____

Company
Initials

 

    	

     

    

 

b.       Form
of Payment. On the Closing Date (as defined below), the Buyer shall pay the purchase price for the Note to be issued and sold to
it at the Closing (as defined below) (the “Purchase Price”) by wire transfer of immediately available funds to the Company,
in accordance with the Company’s written wiring instructions, against delivery of the Note in the principal amount equal to the
Purchase Price as is set forth immediately below the Buyer’s name on the signature pages hereto, and the Company shall deliver
such duly executed Note on behalf of the Company, to the Buyer, against delivery of such Purchase Price.

 

c.       Closing
Date. The date and time of the first issuance and sale of the Note pursuant to this Agreement (the “Closing Date”) shall
be on or about August 9, 2021, or such other mutually agreed upon time. The closing of the transactions contemplated by this Agreement
(the “Closing”) shall occur on the Closing Date at such location as may be agreed to by the parties.

 

2.       Buyer’s
Representations and Warranties. The Buyer represents and warrants to the Company that:

 

a.       Investment
Purpose. As of the date hereof, the Buyer is purchasing the Note and the shares of Common Stock issuable upon conversion of or otherwise
pursuant to the Note, such shares of Common Stock being collectively referred to herein as the “Conversion Shares” and, collectively
with the Note, the “Securities”) for its own account and not with a present view towards the public sale or distribution
thereof, except pursuant to sales registered or exempted from registration under the 1933 Act; provided, however, that
by making the representations herein, the Buyer does not agree to hold any of the Securities for any minimum or other specific term and
reserves the right to dispose of the Securities at any time in accordance with or pursuant to a registration statement or an exemption
under the 1933 Act.

 

b.       Accredited
Investor Status. The Buyer is an “accredited investor” as that term is defined in Rule 501(a) of Regulation D (an “Accredited
Investor”). Any of Buyer’s transferees, assignees, or purchasers must be “accredited investors” in order to qualify
as prospective transferees, permitted assignees in the case of Buyer’s or Holder’s transfer, assignment or sale of the Note.

 

c.       Reliance
on Exemptions. The Buyer understands that the Securities are being offered and sold to it in reliance upon specific exemptions from
the registration requirements of United States federal and state securities laws and that the Company is relying upon the truth and accuracy
of, and the Buyer’s compliance with, the representations, warranties, agreements, acknowledgments and understandings of the Buyer
set forth herein in order to determine the availability of such exemptions and the eligibility of the Buyer to acquire the Securities.

 

d.       Information.
The Buyer and its advisors, if any, have been, and for so long as the Note remain outstanding will continue to be, furnished with all
materials relating to the business, finances and operations of the Company and materials relating to the offer and sale of the Securities
which have been requested by the Buyer or its advisors. The Buyer and its advisors, if any, have been, and for so long as the Note remain
outstanding will continue to be, afforded the opportunity to ask questions of the Company. Notwithstanding the foregoing, the Company
has not disclosed to the Buyer any material nonpublic information and will not disclose such information unless such information is disclosed
to the public prior to or promptly following such disclosure to the Buyer. Neither such inquiries nor any other due diligence investigation
conducted by Buyer or any of its advisors or representatives shall modify, amend or affect Buyer’s right to rely on the Company’s
representations and warranties contained in Section 3 below. The Buyer understands that its investment in the Securities involves a significant
degree of risk. The Buyer is not aware of any facts that may constitute a breach of any of the Company’s representations and warranties
made herein.

 

    	2

     

    

 

e.       Governmental
Review. The Buyer understands that no United States federal or state agency or any other government or governmental agency has passed
upon or made any recommendation or endorsement of the Securities.

 

f.       Transfer
or Re-sale. The Buyer understands that the sale or re-sale of the Securities has not been and is not being registered under the 1933
Act or any applicable state securities laws, and the Securities may not be transferred unless the Securities are sold pursuant to an
effective registration statement under the 1933 Act, in the case of subparagraphs (c), (d) and (e) below, the Buyer shall have delivered
to the Company, at the cost of the Buyer, an opinion of counsel that shall be in form, substance and scope customary for opinions of
counsel in comparable transactions to the effect that the Securities to be sold or transferred may be sold, or transferred pursuant to
an exemption from such registration, including the removal of any restrictive legend which opinion shall be accepted by the Company,
the Securities are sold or transferred to an “affiliate” (as defined in Rule 144 promulgated under the 1933 Act (or a successor
rule) (“Rule 144”) of the Buyer who agrees to sell or otherwise transfer the Securities only in accordance with this Section
2(f) and who is an Accredited Investor, the Securities are sold pursuant to Rule 144, or the Securities are sold pursuant to Regulation
S under the 1933 Act (or a successor rule) (“Regulation S”); (ii) any sale of such Securities made in reliance on Rule 144
may be made only in accordance with the terms of said Rule and further, if said Rule is not applicable, any re-sale of such Securities
under circumstances in which the seller (or the person through whom the sale is made) may be deemed to be an underwriter (as that term
is defined in the 1933 Act) may require compliance with some other exemption under the 1933 Act or the rules and regulations of the SEC
thereunder; and (iii) neither the Company nor any other person is under any obligation to register such Securities under the 1933 Act
or any state securities laws or to comply with the terms and conditions of any exemption thereunder (in each case). Notwithstanding the
foregoing or anything else contained herein to the contrary, the Securities may be pledged as collateral in connection with a bona
fide margin account or other lending arrangement.

 

g.       Legends.
The Buyer understands that the Note and, until such time as the Conversion Shares have been registered under the 1933 Act will be sold
pursuant to Rule 144 or Regulation S without any restriction as to the number of securities as of a particular date that can then be
immediately sold, the Conversion Shares may bear a restrictive legend in substantially the following form (and a stop-transfer order
may be placed against transfer of the certificates for such Securities):

 

    	3

     

    

 

“NEITHER
THE ISSUANCE AND SALE OF THE SECURITIES REPRESENTED BY THIS CERTIFICATE NOR THE SECURITIES INTO WHICH THESE SECURITIES ARE EXERCISABLE
HAVE BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR APPLICABLE STATE SECURITIES LAWS. THE SECURITIES MAY NOT BE OFFERED
FOR SALE, SOLD, TRANSFERRED OR ASSIGNED (I) IN THE ABSENCE OF (A) AN EFFECTIVE REGISTRATION STATEMENT FOR THE SECURITIES UNDER THE SECURITIES
ACT OF 1933, AS AMENDED, OR (B) AN OPINION OF COUNSEL (WHICH COUNSEL SHALL BE SELECTED BY THE HOLDER), IN A GENERALLY ACCEPTABLE FORM,
THAT REGISTRATION IS NOT REQUIRED UNDER SAID ACT OR (II) UNLESS SOLD PURSUANT TO RULE 144 OR RULE 144A UNDER SAID ACT. NOTWITHSTANDING
THE FOREGOING, THE SECURITIES MAY BE PLEDGED IN CONNECTION WITH A BONA FIDE MARGIN ACCOUNT OR OTHER LOAN OR FINANCING ARRANGEMENT SECURED
BY THE SECURITIES.”

 

The
legend set forth above shall be removed and the Company shall issue a certificate without such legend to the holder of any Security upon
which it is stamped, if, unless otherwise required by applicable state securities laws, (a) such Security is registered for sale under
an effective registration statement filed under the 1933 Act or otherwise may be sold pursuant to Rule 144 or Regulation S without any
restriction as to the number of securities as of a particular date that can then be immediately sold, and (b) such holder provides the
Company with an opinion of counsel, in form, substance and scope customary for opinions of counsel in comparable transactions, to the
effect that a public sale or transfer of such Security may be made without registration under the 1933 Act, and that legend removal is
appropriate, which opinion shall be accepted by the Company so that the sale or transfer is effected. The Buyer agrees to sell all Securities,
including those represented by a certificate(s) from which the legend has been removed, in compliance with applicable prospectus delivery
requirements, if any. In the event that the Company does not accept the opinion of counsel provided by the Buyer with respect to the
transfer of Securities pursuant to an exemption from registration, such as Rule 144 or Regulation S, within 2 business days, it will
be considered an Event of Default under the Note.

 

h.       Authorization;
Enforcement. This Agreement has been duly and validly authorized. This Agreement has been duly executed and delivered on behalf of
the Buyer, and this Agreement constitutes a valid and binding agreement of the Buyer enforceable in accordance with its terms.

 

i.       Residency.
The Buyer is a resident of the jurisdiction set forth immediately below the Buyer’s name on the signature pages hereto.

 

j.
No Short Sales. Buyer/Holder, its successors and assigns, agree that so long as the Note remains outstanding, neither the
Buyer/Holder nor any of its affiliates shall not enter into or effect “short sales” of the Common Stock or hedging transaction
which establishes a short position with respect to the Common Stock of the Company. The Company acknowledges and agrees that upon delivery
of a Conversion Notice by the Buyer/Holder, the Buyer/Holder immediately owns the shares of Common Stock described in the Conversion
Notice and any sale of those shares issuable under such Conversion Notice would not be considered short sales.

 

    	4

     

    

 

3.       Representations
and Warranties of the Company. The Company represents and warrants to the Buyer that:

 

a.       Organization
and Qualification. The Company and each of its subsidiaries, if any, is a corporation duly organized, validly existing and in good
standing under the laws of the jurisdiction in which it is incorporated, with full power and authority (corporate and other) to own,
lease, use and operate its properties and to carry on its business as and where now owned, leased, used, operated and conducted.

 

b.       Authorization;
Enforcement. (i) The Company has all requisite corporate power and authority to enter into and perform this Agreement, the Note and
to consummate the transactions contemplated hereby and thereby and to issue the Securities, in accordance with the terms hereof and thereof,
(ii) the execution and delivery of this Agreement, the Note by the Company and the consummation by it of the transactions contemplated
hereby and thereby (including without limitation, the issuance of the Note and the issuance and reservation for issuance of the Conversion
Shares issuable upon conversion or exercise thereof) have been duly authorized by the Company’s Board of Directors and no further
consent or authorization of the Company, its Board of Directors, or its shareholders is required, (iii) this Agreement has been duly
executed and delivered by the Company by its authorized representative, and such authorized representative is the true and official representative
with authority to sign this Agreement and the other documents executed in connection herewith and bind the Company accordingly, and (iv)
this Agreement constitutes, and upon execution and delivery by the Company of the Note, each of such instruments will constitute, a legal,
valid and binding obligation of the Company enforceable against the Company in accordance with its terms.

 

c.       Issuance
of Shares. The Conversion Shares are duly authorized and reserved for issuance and, upon conversion of the Note in accordance with
its respective terms, will be validly issued, fully paid and non-assessable, and free from all taxes, liens, claims and encumbrances
with respect to the issue thereof and shall not be subject to preemptive rights or other similar rights of shareholders of the Company
and will not impose personal liability upon the holder thereof.

 

d.       Acknowledgment
of Dilution. The Company understands and acknowledges the potentially dilutive effect to the Common Stock upon the issuance of the
Conversion Shares upon conversion of the Note. The Company further acknowledges that its obligation to issue Conversion Shares upon conversion
of the Note in accordance with this Agreement, the Note is absolute and unconditional regardless of the dilutive effect that such issuance
may have on the ownership interests of other shareholders of the Company.

 

    	5

     

    

 

e.       No
Conflicts. The execution, delivery and performance of this Agreement, the Note by the Company and the consummation by the Company
of the transactions contemplated hereby and thereby (including, without limitation, the issuance and reservation for issuance of the
Conversion Shares) will not (i) conflict with or result in a violation of any provision of the Certificate of Incorporation or By-laws,
or (ii) violate or conflict with, or result in a breach of any provision of, or constitute a default (or an event which with notice or
lapse of time or both could become a default) under, or give to others any rights of termination, amendment, acceleration or cancellation
of, any agreement, indenture, patent, patent license or instrument to which the Company or any of its Subsidiaries is a party, or (iii)
result in a violation of any law, rule, regulation, order, judgment or decree (including federal and state securities laws and regulations
and regulations of any self-regulatory organizations to which the Company or its securities are subject) applicable to the Company or
any of its Subsidiaries or by which any property or asset of the Company or any of its Subsidiaries is bound or affected (except for
such conflicts, defaults, terminations, amendments, accelerations, cancellations and violations as would not, individually or in the
aggregate, have a Material Adverse Effect). All consents, authorizations, orders, filings and registrations which the Company is required
to obtain pursuant to the preceding sentence have been obtained or effected on or prior to the date hereof. The Company is not in violation
of the listing requirements of the OTC Markets Exchange (the “OTC MARKETS”) and does not reasonably anticipate that the Common
Stock will be delisted by the OTC MARKETS in the foreseeable future, nor are the Company’s securities “chilled” by
FINRA. The Company and its Subsidiaries are unaware of any facts or circumstances which might give rise to any of the foregoing.

 

f.       Absence
of Litigation. Except as disclosed in the Company’s Periodic Report filings with the SEC, there is no action, suit, claim,
proceeding, inquiry or investigation before or by any court, public board, government agency, self-regulatory organization or body pending
or, to the knowledge of the Company or any of its subsidiaries, threatened against or affecting the Company or any of its subsidiaries,
or their officers or directors in their capacity as such, that could have a material adverse effect. Schedule 3(f) contains a complete
list and summary description of any pending or, to the knowledge of the Company, threatened proceeding against or affecting the Company
or any of its subsidiaries, without regard to whether it would have a material adverse effect. The Company and its subsidiaries are unaware
of any facts or circumstances which might give rise to any of the foregoing.

 

g.       Acknowledgment
Regarding Buyer’ Purchase of Securities. The Company acknowledges and agrees that the Buyer is acting solely in the capacity
of arm’s length purchasers with respect to this Agreement and the transactions contemplated hereby. The Company further acknowledges
that the Buyer is not acting as a financial advisor or fiduciary of the Company (or in any similar capacity) with respect to this Agreement
and the transactions contemplated hereby and any statement made by the Buyer or any of its respective representatives or agents in connection
with this Agreement and the transactions contemplated hereby is not advice or a recommendation and is merely incidental to the Buyer’
purchase of the Securities. The Company further represents to the Buyer that the Company’s decision to enter into this Agreement
has been based solely on the independent evaluation of the Company and its representatives.

 

    	6

     

    

 

h.       No
Integrated Offering. Neither the Company, nor any of its affiliates, nor any person acting on its or their behalf, has directly or
indirectly made any offers or sales in any security or solicited any offers to buy any security under circumstances that would require
registration under the 1933 Act of the issuance of the Securities to the Buyer.

 

i.       Title
to Property. The Company and its subsidiaries have good and marketable title in fee simple to all real property and good and marketable
title to all personal property owned by them which is material to the business of the Company and its subsidiaries, in each case free
and clear of all liens, encumbrances and defects except such as are described in Schedule 3(i) or such as would not have a material adverse
effect. Any real property and facilities held under lease by the Company and its subsidiaries are held by them under valid, subsisting
and enforceable leases with such exceptions as would not have a material adverse effect.

 

j.       Bad
Actor. No officer or director of the Company would be disqualified under Rule 506(d) of the Securities Act as amended on the basis
of being a “bad actor” as that term is established in the September 19, 2013 Small Entity Compliance Guide published by the
Securities and Exchange Commission.

 

k.       Breach
of Representations and Warranties by the Company. If the Company breaches any of the representations or warranties set forth in this
Section 3, and in addition to any other remedies available to the Buyer pursuant to this Agreement, it will be considered an Event of
default under the Note.

 

4.       COVENANTS.

 

a.       Expenses.
At the Closing, the Company shall reimburse Buyer for expenses incurred by them in connection with the negotiation, preparation, execution,
delivery and performance of this Agreement and the other agreements to be executed in connection herewith (“Documents”),
including, without limitation, reasonable attorneys’ and consultants’ fees and expenses, transfer agent fees, fees for stock
quotation services, fees relating to any amendments or modifications of the Documents or any consents or waivers of provisions in the
Documents, fees for the preparation of opinions of counsel, escrow fees, and costs of restructuring the transactions contemplated by
the Documents. When possible, the Company must pay these fees directly, otherwise the Company must make immediate payment for reimbursement
to the Buyer for all fees and expenses immediately upon written notice by the Buyer or the submission of an invoice by the Buyer.

 

b.       Listing.
The Company shall promptly secure the listing of the Conversion Shares upon each national securities exchange or automated quotation
system, if any, upon which shares of Common Stock are then listed (subject to official notice of issuance) and, so long as the Buyer
owns any of the Note Securities, shall maintain, so long as any other shares of Common Stock shall be so listed, such listing of all
Conversion Shares from time to time issuable upon conversion of the Note. The Company will obtain and, so long as the Buyer owns any
of the Securities, maintain the listing and trading of its Common Stock on the OTC MARKETS or any equivalent replacement market, the
Nasdaq stock market (“Nasdaq”), or the New York Stock Exchange (“NYSE”) and will comply in all respects with
the Company’s reporting, filing and other obligations under the bylaws or rules of the Financial Industry Regulatory Authority
(“FINRA”) and such exchanges, as applicable. The Company shall promptly provide to the Buyer copies of any notices it receives
from the OTC MARKETS and any other markets on which the Common Stock is then listed regarding the continued eligibility of the Common
Stock for listing on such markets.

 

    	7

     

    

 

c.       Corporate
Existence. So long as the Buyer beneficially owns the Note, the Company shall maintain its corporate existence and shall not sell
all or substantially all of the Company’s assets, except in the event of a merger or consolidation or sale of all or substantially
all of the Company’s assets, where the surviving or successor entity in such transaction (i) assumes the Company’s obligations
hereunder and under the agreements and instruments entered into in connection herewith and (ii) is a publicly traded corporation whose
Common Stock is listed for trading on the OTC MARKETS, Nasdaq or NYSE.

 

d.       No
Integration. The Company shall not make any offers or sales of any security (other than the Securities) under circumstances that
would require registration of the Securities being offered or sold hereunder under the 1933 Act or cause the offering of the Securities
to be integrated with any other offering of securities by the Company for the purpose of any stockholder approval provision applicable
to the Company or its securities.

 

e.       Warrants.
As additional consideration for the purchase of the Note, the Company shall issue the Buyer, a three (3)
year warrant to purchase 800,000 shares of Common Stock at an exercise price of $0.095 per share. If the shares of Common
Stock issuable upon conversion of the Warrant are not included in a registration statement at the time of exercise, the Warrant shall
be cashless.

 

f.       Commitment
Shares.  The Company shall issue the Buyer a total of 100,000 commitment shares as additional consideration for the purchase
of the Note.

 

g.       Registration
Rights. The Company shall have filed a registration statement within 90 days of the execution of this Agreement, providing for the
registration of all shares issuable upon conversion of the Note and exercise of the Warrant.

 

h.       Breach
of Covenants. If the Company breaches any of the covenants set forth in this Section 4, and in addition to any other remedies available
to the Buyer pursuant to this Agreement, it will be considered an event of default under the Note.

 

5.       Governing
Law; Miscellaneous.

 

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a.       Governing
Law. This Agreement shall be governed by and construed in accordance with the laws of the State of Nevada without regard to principles
of conflicts of laws. Any action brought by either party against the other concerning the transactions contemplated by this Agreement
shall be brought only in the state courts of New York or in the federal courts located in the state and county of New York. The parties
to this Agreement hereby irrevocably waive any objection to jurisdiction and venue of any action instituted hereunder and shall not assert
any defense based on lack of jurisdiction or venue or based upon forum non conveniens. The Company and Buyer waive trial by jury.
The prevailing party shall be entitled to recover from the other party its reasonable attorney’s fees and costs. In the event that
any provision of this Agreement or any other agreement delivered in connection herewith is invalid or unenforceable under any applicable
statute or rule of law, then such provision shall be deemed inoperative to the extent that it may conflict therewith and shall be deemed
modified to conform with such statute or rule of law. Any such provision which may prove invalid or unenforceable under any law shall
not affect the validity or enforceability of any other provision of any agreement. Each party hereby irrevocably waives personal service
of process and consents to process being served in any suit, action or proceeding in connection with this Agreement or any other Transaction
Document 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.

 

b.       Counterparts;
Signatures by Facsimile. This Agreement may be executed in one or more counterparts, each of which shall be deemed an original but
all of which shall constitute one and the same agreement and shall become effective when counterparts have been signed by each party
and delivered to the other party. This Agreement, once executed by a party, may be delivered to the other party hereto by facsimile transmission
of a copy of this Agreement bearing the signature of the party so delivering this Agreement.

 

c.       Headings.
The headings of this Agreement are for convenience of reference only and shall not form part of, or affect the interpretation of, this
Agreement.

 

d.       Severability.
In the event that any provision of this Agreement is invalid or unenforceable under any applicable statute or rule of law, then such
provision shall be deemed inoperative to the extent that it may conflict therewith and shall be deemed modified to conform with such
statute or rule of law. Any provision hereof which may prove invalid or unenforceable under any law shall not affect the validity or
enforceability of any other provision hereof.

 

e.       Entire
Agreement; Amendments. This Agreement and the instruments referenced herein contain the entire understanding of the parties with
respect to the matters covered herein and therein and, except as specifically set forth herein or therein, neither the Company nor the
Buyer makes any representation, warranty, covenant or undertaking with respect to such matters. No provision of this Agreement may be
waived or amended other than by an instrument in writing signed by the majority in interest of the Buyer.

 

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f.       Notices.
All notices, demands, requests, consents, approvals, and other communications required or permitted hereunder shall be in writing and,
unless otherwise specified herein, shall be (i) personally served, (ii) deposited in the mail, registered or certified, return receipt
requested, postage prepaid, (iii) delivered by reputable air courier service with charges prepaid, (iv) via electronic mail or (v) transmitted
by hand delivery, telegram, or facsimile, addressed as set forth below or to such other address as such party shall have specified most
recently by written notice. Any notice or other communication required or permitted to be given hereunder shall be deemed effective (a)
upon hand delivery or delivery by facsimile, with accurate confirmation generated by the transmitting facsimile machine, at the address
or number designated below (if delivered on a business day during normal business hours where such notice is to be received) or delivery
via electronic mail, or the first business day following such delivery (if delivered other than on a business day during normal business
hours where such notice is to be received) or (b) on the second business day following the date of mailing by express courier service,
fully prepaid, addressed to such address, or upon actual receipt of such mailing, whichever shall first occur. The addresses for such
communications shall be:

 

	 	If to the Company, to: 	 
	 	 	ADHERA
    THERAPEUTICS INC.	 
	 	 	8000
    Innovation Parkway	 
	 	 	Baton
    Rouge, LA 70820	 
	 	 	Attn:
    Andrew Kucharchuk, CEO  	 
	 	 	 	 
	 	If to the Buyer:	 
	 	 	SE
    HOLDINGS, LLC	 
	 	 	6130
    W. Flamingo Rd. #1878	 
	 	 	Las
    Vegas, NV 89103	 
	 	 	Attn:
    Aryeh Goldstein	 

 

Each
party shall provide notice to the other party of any change in address.

 

g.       Successors
and Assigns. This Agreement shall be binding upon and inure to the benefit of the parties and their successors and assigns. Neither
the Company nor the Buyer shall assign this Agreement or any rights or obligations hereunder without the prior written consent of the
other. Notwithstanding the foregoing, the Buyer may assign its rights hereunder to any “qualified person”, any “permitted
assigns”, or “prospective transferee” that acquires or purchases Note Securities in a private transaction from the
Buyer or to any of its “affiliates,” as that term is defined under the 1934 Act, without the consent of the Company with
Buyer’s Opinion of Counsel. A qualified person is an “accredited investor” transferee, assignee, or purchaser of the
Note who succeeds to the Holder’s right, title and interest to all or a portion of the Note accompanied with an Opinion of Counsel
as provided for in Section 2(f) , provided that the opinion is consistent with applicable laws
including Section 5 of the 1933 Act and the Rules of the SEC including Rule 144. .

 

h.       Third
Party Beneficiaries. This Agreement is intended for the benefit of the parties hereto and their respective permitted successors and
assigns, and is not for the benefit of, nor may any provision hereof be enforced by, any other person.

 

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i.       Survival.
The representations and warranties of the Company and the agreements and covenants set forth in this Agreement shall survive the closing
hereunder notwithstanding any due diligence investigation conducted by or on behalf of the Buyer. The Company agrees to indemnify and
hold harmless the Buyer and all their officers, directors, employees and agents for loss or damage arising as a result of or related
to any breach or alleged breach by the Company of any of its representations, warranties and covenants set forth in this Agreement or
any of its covenants and obligations under this Agreement, including advancement of expenses as they are incurred.

 

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

 

k.       No
Strict Construction. The language used in this Agreement will be deemed to be the language chosen by the parties to express their
mutual intent, and no rules of strict construction will be applied against any party.

 

l.       Remedies.
The Company acknowledges that a breach by it of its obligations hereunder will cause irreparable harm to the Buyer by vitiating the intent
and purpose of the transaction contemplated hereby. Accordingly, the Company acknowledges that the remedy at law for a breach of its
obligations under this Agreement will be inadequate and agrees, in the event of a breach or threatened breach by the Company of the provisions
of this Agreement, that the Buyer shall be entitled, in addition to all other available remedies at law or in equity, and in addition
to the penalties assessable herein, to an injunction or injunctions restraining, preventing or curing any breach of this Agreement and
to enforce specifically the terms and provisions hereof, without the necessity of showing economic loss and without any bond or other
security being required.

 

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IN
WITNESS WHEREOF, the undersigned Buyer and the Company have caused this Agreement to be duly executed as of the date first above written.

 

	ADHERA
    THERAPEUTICS INC.	 
	 	 
	By:	 	 
	Name:	Andrew
    Kucharchuk	 
	Title:	CEO	 
	 	 	 
	SE
    HOLDINGS, LLC.	 
	 	 	 
	By:	 	 
	Name:
    	Aryeh
    Goldstein	 
	Title:
    	Manager	 

 

	AGGREGATE
    SUBSCRIPTION AMOUNT:	$220,500.00
	 	 
	Aggregate
    Principal Amount of Note:	 
	 	 
	Aggregate
    Purchase Price:	 

 

Note:
$220,500.00 less $10,500.00 in original issue discount, less $10,000.00 in legal fees and less $20,000.00 in fees to Carter, Terry &
Company, Inc.

 

    	12

     

    

 

EXHIBIT
A

144
NOTE - $220,500.00

 

    	13

     

    

 

EXHIBIT
B

Subject
to section 3, Calvary Fund I, LP Security

Pinz
Special Opportunity Fund Security 

 

    	14Exhibit
10.1

 

CANCELLATION
AGREEMENT

 

THIS
CANCELLATION AGREEMENT (this “Agreement”), is entered into effective as of August 12, 2021, by and between Propanc
Biopharma, Inc., a Delaware corporation (the “Company”) and James Nathanielsz, the (“Creditor”).

 

RECITALS

 

WHEREAS,
the Company desires to reduce its debt load in order to improve its balance sheet and to enhance its ability to secure additional financing;
and

 

WHEREAS,
on the Company and Creditor entered into an Amended and Restated Employment Agreement dated May 14, 2019 (the “Agreement”);
and

 

WHEREAS,
pursuant to the Agreement, Creditor is eligible to earn an annual fiscal year cash performance
bonus for each fiscal year of his employment period with the Company in accordance with the Company’s annual bonus plan applicable
to the Company’s senior executives. Creditor’s “target” performance bonus is 200% of his average annualized base
salary during the fiscal year for which the performance bonus is earned; and

 

WHEREAS,
on July 20, Creditor was awarded a “target” bonus of 78%, or $177,840 USD (the “Debt”) for the fiscal year ended
June 30, 2021 by the Company’s board of directors; and

 

WHEREAS,
Creditor agrees to cancel this Debt in exchange for certain amount of shares of common stock of the Company, calculated at the price
of $0.03 per share (the “Exchange Price”), on the terms set forth herein, and the Company is willing and able to issue
shares of common stock to the Creditor on the terms described herein.

 

NOW
THEREFORE, in consideration of the foregoing and the representations, warranties, covenants, and agreements set forth herein, and
other good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, and intending to be legally bound hereby,
the parties hereto hereby covenant and agree as follows:

 

1.
Cancellation of the Debts; Issuance of the Shares. At the Closing (as defined in Section 2 hereof) and subject to the terms
and conditions of this Agreement, the Debt shall be cancelled and the Company shall issue an aggregate of 5,928,000 shares of common
stock, par value $0.001 per share (the “Shares”), calculated at the Exchange Price.

 

2.
Closing; Delivery of Shares.

 

(a)
The closing of the cancellation of the Debt and the issuance of the Shares shall occur as soon as practicable after the execution of
this Agreement, but in no event later than thirty (30) calendar days from the execution of this Agreement (the “Outside Date”),
at the offices of the Company, or such other place, date and time as set forth in this Agreement or as the parties hereto may otherwise
agree (the “Closing”).

 

(b)
At the Closing, the Company shall use its best efforts to cause the Company’s transfer agent to deliver to the Creditor, by courier
or FedEx, stock certificate, or certificates, registered in the name of Creditor and representing the amount of Shares as is set forth
above.

 

3.
Representations and Warranties of Creditor. The Creditor represents and warrants to the Company with respect to only itself that,
as of the date hereof and as of the date of Closing:

 

(a).
Qualification, Authorization and Enforcement. This Agreement has been duly executed by such Creditor, and when delivered by such
Creditor in accordance with the terms hereof, will constitute the valid and legally binding obligation of such Creditor, enforceable
against it in accordance with its terms, except as such enforceability may be limited by applicable bankruptcy, insolvency, reorganization,
moratorium, liquidation or similar laws relating to, or affecting generally the enforcement of, creditors’ rights and remedies
or by other equitable principles of general application.

 

    	 

    	 

    

 

(b).
No Conflict. The execution, delivery, and performance of this Agreement do not and will not: (i) conflict with or violate any
law or governmental order applicable to the Creditor; or (ii) conflict with, result in any breach of, constitute a default (or event
which with the giving of notice or lapse of time or both would become a default) under, require any consent under, or give to others
any rights of termination, amendment, acceleration, suspension, revocation or cancellation of, or result in the creation of any encumbrance
on any of the assets or properties of the Creditor pursuant to, any contract to which the Creditor is a party or by which any of such
assets or properties is bound or affected.

 

(c).
Governmental Consents and Approvals. The execution, delivery, and performance of this Agreement by the Creditor does not and will
not require any consent, approval, authorization, or other order of, action by, filing with, or notification to, any governmental authority.

 

(d).
Purchase Entirely for Own Account. Creditor is acquiring the Shares for Creditor’s own account for investment purposes only,
not as nominee or agent, and not with a view to, or for sale in connection with, a distribution of the Shares within the meaning of the
Securities Act of 1933, as amended (the “Securities Act”), and Creditor has no present intention of selling, granting
any participation in, or otherwise distributing the same in violation of the Securities Act without prejudice; however, Creditor has
a right at all times to sell or otherwise dispose of all or any part of such Shares in compliance with applicable federal and state securities
laws. Nothing contained herein shall be deemed a representation or warranty by Creditor to hold Shares for any period of time.

 

(e).
Investor Status. Creditor is not a registered broker-dealer under Section 15 of the Securities Exchange Act of 1934 (the “Exchange
Act”) or an entity engaged in a business that would require it to be so registered. Creditor has such experience in business
and financial matters that it is capable of evaluating the merits and risks of an investment in the Shares. Creditor acknowledges that
an investment in the Shares is speculative and involves a high degree of risk. If such Creditor is a U.S. Person (as such term is defined
in Rule 902(k) of Regulation S), at the time such Creditor was offered the Shares, it was, and at the date hereof it is, an “accredited
investor” as defined in Rule 501(a) under the Securities Act.

 

(f).
Regulation S. If such Creditor is not a U.S. Person, such Creditor (i) acknowledges that the certificate(s) representing or evidencing
the Shares contain a customary restrictive legend restricting the offer, sale or transfer of any Shares except in accordance with the
provisions of Regulation S, pursuant to registration under the Securities Act, or pursuant to an available exemption from registration,
(ii) agrees that all offers and sales by such Creditor of Shares shall be made pursuant to an effective registration statement under
the Securities Act or pursuant to an exemption from, or a transaction not subject to the registration requirements of, the Securities
Act, (iii) represents that the offer to purchase the Shares was made to such Creditor outside of the United States, and such Creditor
was, at the time of the offer and will be, at the time of the sale and is now, outside the United States, (iv) has not engaged in or
directed any unsolicited offers to purchase Shares in the United States, (v) is neither a U.S. Person nor a Distributor (as such terms
are defined in Rule 902(k) and 902(d), respectively, of Regulation S), (vi) has purchased the Shares for its own account and not for
the account or benefit of any U.S. Person, (vii) is the sole beneficial owner of the Shares specified on signature pages hereto opposite
its name and has not pre-arranged any sale with an investor in the United States, and (ix) is familiar with and understands the terms
and conditions and requirements contained in Regulation S, specifically, without limitation, Creditor understands that the statutory
basis for the exemption claimed for the sale of the Shares would not be present if the sale, although in technical compliance with Regulation
S, is part of a plan or scheme to evade the registration provisions of the Securities Act. Such Creditor has completed and executed the
Regulation S Representation Letter attached as Exhibit A to this Agreement.

 

(g).
Access to Information. Creditor has been afforded (i) the opportunity to ask such questions as it has deemed necessary of, and
to receive answers from, representatives of the Company concerning the terms and conditions of the offering of the Shares and the merits
and risks of investing in the Shares; (ii) access to information about the Company and its financial condition, results of operations,
business, properties, management and prospects sufficient to enable it to evaluate its investment; and (iii) the opportunity to obtain
such additional information that the Company possesses or can acquire without unreasonable effort or expense that is necessary to make
an informed investment decision with respect to the investment.

 

    	 

    	 

    

 

(h).
Independent Investment Decision. Creditor has independently evaluated the merits of its decision to purchase the Shares pursuant
to this Agreement, and such Creditor confirms that it has not relied on the advice of any other Creditor’s business and/or legal
counsel in making such decision. Creditor understands that nothing in the Agreement or any other materials presented to Creditor in connection
with the purchase and sale of the Shares constitutes legal, tax or investment advice. Creditor has consulted such legal, tax and investment
advisors as it, in its sole discretion, has deemed necessary or appropriate in connection with its purchase of the Shares.

 

(i).
Restricted Securities. Creditor understands and acknowledges that:

 

i.
the Shares are characterized as “restricted securities” under the U.S. federal securities laws and will bear a customary
restrictive legend inasmuch as they are being acquired from the Company in a transaction not involving a public offering and that under
such laws and applicable regulations such securities may be resold without registration under the Securities Act only in certain limited
circumstances;

 

ii.
the Shares have not been registered under the Securities Act or any state securities laws and are being offered and sold in reliance
upon specific exemptions from the registration requirements of the Securities Act and state securities laws, and the Company is relying
upon the truth and accuracy of, and Creditor’s compliance with, the representations, warranties, covenants, agreements, acknowledgments
and understandings of Creditor contained in this Agreement in order to determine the availability of such exemptions and the eligibility
of Creditor to acquire the Shares; and

 

iii.
the Shares must be held indefinitely unless such Shares are registered under the Securities Act or applicable state securities laws,
or an exemption from registration is available.

 

(j).
No Registration Rights. Creditor further understands that there are no registration rights associated with the Shares being acquired
pursuant to this Agreement.

 

4.
Representations and Warranties of the Company. The Company hereby represents and warrants to the Creditor that, as of the date
hereof and as of the date of Closing:

 

(a).
Qualification, Authorization and Enforcement. The Company is duly incorporated or otherwise organized, validly existing and in
good standing under the laws of the jurisdiction of its incorporation, with the requisite power and authority to own and use its properties
and assets and to carry on its business as currently conducted. The Company has the requisite corporate power and authority to enter
into and to consummate the transactions contemplated by this Agreement and otherwise to carry out its obligations there under. The execution
and delivery of this Agreement 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 in connection therewith.
This Agreement has been duly executed by the Company and, when delivered in accordance with the terms hereof, will constitute the valid
and binding obligation of the Company enforceable against the Company in accordance with its terms, except as such enforceability may
be limited by applicable bankruptcy, insolvency, reorganization, moratorium, liquidation or similar laws relating to, or affecting generally
the enforcement of, creditors’ rights and remedies or by other equitable principles of general application.

 

(b).
No Conflicts. The execution, delivery and performance of this Agreement by the Company and the consummation by the Company of
the transactions contemplated hereby and thereby do not and will not (i) conflict with or violate any provision of the Company’s
articles of incorporation, bylaws or other organizational or charter documents as in effect on the date hereof, or (ii) conflict with,
or constitute a default (or an event that with notice or lapse of time or both would become a default) under, or give to others any rights
of termination, amendment, acceleration or cancellation (with or without notice, lapse of time or both) of, any agreement, credit facility,
debt or other instrument (evidencing a Company debt or otherwise) or other understanding to which the Company is a party or by which
any property or asset of the Company is bound or affected, or (iii) result in a violation of any law, rule, regulation, order, judgment,
injunction, decree or other restriction of any court or governmental authority to which the Company is subject (including federal and
state securities laws and regulations), or by which any property or asset of the Company is bound or affected; except in the case of
each of clauses (ii) and (iii), such as could not, individually or in the aggregate, have or reasonably be expected to result in a material
adverse effect.

 

    	 

    	 

    

 

(c).
Filings, Consents and Approvals. The Company is not required to obtain any consent, waiver, authorization or order of, give any
notice to, or make any filing or registration with any United States or Australia court or other federal, state, local or other governmental
authority or other person in connection with the execution, delivery and performance by the Company of this Agreement, other than (i)
filings if required by state securities laws, (ii) if required, the filing with NASDAQ of an applicable additional shares listing application
or notification relating to the Shares issuable hereunder, (iii) if required, the filing of a Notice of Sale of Securities on Form D
with the Securities and Exchange Commission under Regulation D of the Securities Act, (iv) the filings required in accordance with the
Exchange Act and (v) those that have been made or obtained prior to the date of this Agreement.

 

(d).
Issuance of Shares. The Shares are duly authorized and, when issued and paid for in accordance with the terms and conditions of
this Agreement, will be validly issued, fully paid and non assessable, free and clear of all liens imposed by the Company. There are
no subscriptions, warrants, rights of first refusal or other restrictions on transfer relative to, or options exercisable with respect
to, the Shares. The Shares are not the subject of any present or, to the Company’s knowledge, threatened suit, action, arbitration,
administrative or other proceeding, and the Company knows of no reasonable grounds for the institution of any such proceedings.

 

5.
Amounts Repaid in Full. For and in consideration of the issuance of the Shares to the Creditor, the Debt shall be deemed to be
repaid in full, and the Company shall have no further obligations in connection with the Debt.

 

6.
Release by the Creditor. Upon receipt of the Shares, the Creditor releases and discharges the Company, the Company’s subsidiaries,
Company’s and each of its subsidiaries’ officers, directors, principals, control persons, past and present employees, insurers,
successors, and assigns (“Company Parties”) from all actions, cause of action, suits, debts, dues, sums of money,
accounts, reckonings, bonds, bills, specialties, covenants, contracts, controversies, agreements, promises, variances, trespasses, damages,
judgments, extents, executions, claims, and demands whatsoever, in law, admiralty or equity, which against Company Parties such Creditor
ever had, now have or hereafter can, shall or may, have for, upon, or by reason of any matter, cause or thing whatsoever, whether or
not known or unknown, from the beginning of the world to the day of the date of this release relating to the Debts. The Creditor represents
and warrants that no other person or entity has any interest in the matters released herein, and that it has not assigned or transferred,
or purported to assign or transfer, to any person or entity all or any portion of the matters released herein.

 

7.
Fees, Expenses. Each party shall pay the fees and expenses of its advisers, counsel, accountants and other experts, if any, and
all other expenses incurred by such party incident to the negotiation, preparation, execution, delivery and performance of this Agreement.
The Company shall pay all transfer agent fees (including, without limitation, any fees required for same-day processing of any instruction
letter delivered by the Company), stamp taxes and other taxes and duties levied in connection with the delivery of any Shares to the
Creditor.

 

8.
General Provisions.

 

(a).
Governing Law; Jurisdiction; Waiver of Jury Trial. This Agreement shall be governed by and construed under the laws of the State
of Delaware without regard to the choice of law principles thereof. Each party hereby irrevocably submits to the exclusive jurisdiction
of the state and federal courts sitting in the State of Delaware for the adjudication of any dispute hereunder or in connection herewith
or therewith or with any transaction contemplated hereby or thereby, and hereby irrevocably waives any objection that such suit, action
or proceeding is brought in an inconvenient forum or that the venue of such suit, action or proceeding is improper. Nothing contained
herein shall be deemed to limit in any way any right to serve process in any manner permitted by law. EACH PARTY HEREBY IRREVOCABLY WAIVES
ANY RIGHT IT MAY HAVE, AND AGREES NOT TO REQUEST, A JURY TRIAL FOR THE ADJUDICATION OF ANY DISPUTE HEREUNDER OR IN CONNECTION WITH OR
ARISING OUT OF THIS AGREEMENT OR ANY TRANSACTION CONTEMPLATED HEREBY.

 

    	 

    	 

    

 

(b).
Termination. This Agreement may be terminated prior to Closing:

 

i.
by written agreement of the Creditor and the Company; or

 

ii.
by either the Company or the Creditor (as to itself but no other Creditor) upon written notice to the other, if the Closing shall not
have taken place by 6:30 p.m. Eastern time on the Outside Date; provided, that the right to terminate this Agreement under this
Section 8(b) shall not be available to any person whose failure to comply with its obligations under this Agreement has been the cause
of or resulted in the failure of the Closing to occur on or before such time.

 

Upon
a termination in accordance with this Section 8(b), the Company and Creditor shall not have any further obligation or liability (including
as arising from such termination) to the other and no Creditor will have any liability to any other Creditor under this Agreement as
a result here from and there from.

 

(c).
Notices. All notices or other communications required or permitted by this Agreement shall be writing and shall be deemed to have
been duly received:

 

i.
if given by facsimile or electronic version, when transmitted and the appropriate telephonic or electronic confirmation received if transmitted
on a business day and during normal business hours of the recipient, and otherwise on the next business day following transmission;

 

ii.
if given by certified or registered mail, return receipt requested, postage prepaid, three business days after being deposited in the
U.S. mails; and

 

iii.
if given by courier or other means, when received or personally delivered, and, in any such case, addressed as indicated herein, or to
such other addresses as may be specified by any such party to the other party pursuant to notice given by such party in accordance with
the provisions of this Section.

 

(d).
Further Assurances. The parties shall execute and deliver all such further instruments and documents and take all such other actions
as may reasonably be required to carry out the transactions contemplated hereby and to evidence the fulfillment of the agreements herein
contained.

 

(e).
Successors and Assigns. The terms and conditions of this Agreement shall inure to the benefit of and be binding upon the respective
successors and assigns of the parties.

 

(f).
No Third-Party Beneficiaries. This Agreement is intended for the benefit of the parties hereto and their respective successors
and permitted assigns and is not for the benefit of, nor may any provision hereof be enforced by, any other person, except as otherwise
set forth in Section 6.

 

(g).
Modification and Waivers. No provision of this Agreement may be waived or amended except in a written instrument signed by the
Company and the Creditor. 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 either party to exercise any right hereunder in any manner impair the exercise
of any such right.

 

(h).
Severability. If any provision of this Agreement is held to be invalid or unenforceable in any respect, the validity and enforceability
of the remaining terms and provisions of this Agreement shall not in any way be affected or impaired thereby and the parties will attempt
to agree upon a valid and enforceable provision that is a reasonable substitute therefor, and upon so agreeing, shall incorporate such
substitute provision in this Agreement.

 

(i).
Entire Agreement. This Agreement contains the entire understanding of the parties with respect to the subject matter hereof and
supersede all prior agreements, understandings, discussions and representations, oral or written, with respect to such matters, which
the parties acknowledge have been merged into such documents, exhibits and schedules.

 

(j).
Headings. The headings used in this Agreement are for convenience of reference only and shall not be deemed to limit, characterize
or in any way affect the interpretation of any provision of this Agreement.

 

(k).
Survival. The representations, warranties, agreements and covenants contained herein shall survive the Closing and the delivery
of the Shares, until the second anniversary of the date hereof.

 

(l).
Counterparts. This Agreement may be executed in two or more counterparts, each of which shall be deemed an original, but all of
which together shall constitute one and the same Agreement. A facsimile or PDF copy of this Agreement shall be deemed an original.

 

[Signature
Page Follows]

 

    	 

    	 

    

 

IN
WITNESS WHEREOF, the parties have executed this Agreement or caused their duly authorized officers to execute this Agreement as of
the date first above written.

 

	 	JAMES NATHANIELSZ, an individual
	 	 	 
	 	By:	/s/
                                            James Nathanielsz

	 	Name:	James
    Nathanielsz

 

	 	PROPANC BIOPHARMA , INC.
	 	 	 
	 	By:	/s/
                                            Julian Kenyon

	 	Name:	Dr.
    Julian Kenyon
	 	Title:	Chief
    Scientific Officer, Director

 

	 	By:	
/s/
                                            Josef Zelinger

	 	Name:	Josef
    Zelinger
	 	Title:	Director

 

	 	CREDITORS
	 	 
	 	TILLICUM
    INVESTMENT COMPANY LIMITED

 

    	 

    	 

    

 

Exhibit
A

 

Regulation
S Representation Letter

 

Date:
August 12, 2021

 

Re:
Propanc Biopharma, Inc. (the “Company”)

 

Ladies
and Gentlemen:

 

Pursuant
to certain Cancellation Agreement between the undersigned and the Company, dated as of July 20, 2021, the undersigned hereby represents,
warrants and covenants to the Company as follows:

 

	 	1.	The
    undersigned is not a “U.S. Person,” as such term is defined in Regulation S (“Regulation S”) promulgated
    under the Securities Act of 1933, as amended (the “Securities Act”).
	 	 	 
	 	2.	No
    offer or sale of the shares of common stock of the Company (the “Shares”) was made to the undersigned in the United
    States.
	 	 	 
	 	3.	The
    undersigned is not acquiring the Shares for the account or on behalf of any U.S. Person.
	 	 	 
	 	4.	The
    undersigned has not made any prearrangement to transfer the Shares to a U.S. Person or to return the Shares to the United States
    securities markets (which includes short sales in the United States within the applicable “distribution compliance period,”
    as defined in Regulation S (hereinafter referred to as the “restricted period”) to be covered by delivery of the
    Company’s Shares) and is not acquiring the Shares as part of any plan or scheme to evade the registration requirements of the
    Securities Act.
	 	 	 
	 	5.	All
    offers and sales of the Shares by the undersigned in the United States or to U.S. Persons or otherwise whether prior to the expiration
    or after the expiration of the applicable restricted period shall be made only pursuant to a registration of the Shares under the
    Securities Act or an exemption from registration, and in compliance with Regulation S.
	 	 	 
	 	6.	The
    undersigned is not a “distributor,” as defined in Regulation S. However, if the undersigned should be deemed to be a
    distributor prior to reselling the Shares to a non-U.S. Person during the restricted period, the undersigned will send a notice to
    each new purchaser of Shares that such new purchaser is subject to the restrictions of Regulation S during the restricted period.
	 	 	 
	 	7.	The
    undersigned is not an “underwriter” or “dealer” (as such terms are defined in the Securities Act), and the
    acquisition of the Shares by the undersigned is not a transaction (or part of a series of transactions) that is part of any plan
    or scheme to evade the registration provisions of the Securities Act.
	 	 	 
	 	8.	The
    undersigned does not have a short position in any securities of the Company and will not have a short position in such securities
    at any time prior to the expiration of the restricted period.
	 	 	 
	 	9.	If
    at any time after the expiration of the restricted period, the undersigned wishes to transfer or attempts to transfer the Shares
    to a U.S. Person, the undersigned agrees to notify the Company if at such time it is an “affiliate” of the Company or
    is then acting as an “underwriter,” “dealer,” or “distributor” as to such securities (as such
    terms are defined in the Securities Act or the regulations promulgated thereunder, including but not limited to, Regulation S), or
    if such transfer is being made as part of a plan or scheme to evade the registration provisions of the Securities Act.
	 	 	 
	 	10.	The
    undersigned acknowledges that the undersigned may only be able to resell the Shares pursuant to the provisions of Regulation S and
    otherwise pursuant to the Securities Act, and that it may not be possible for the undersigned to liquidate its investment in the
    Shares. The undersigned is prepared, therefore, to hold its, his or her Shares in the Company indefinitely.

 

(Signature
Page Follows]

 

    	 

     

    

 

IN
WITNESS WHEREOF, the undersigned has executed this Regulation S Representation Letter as of the date first set forth above.

 

	By:	/s/
                                            James Nathanielsz
	 

 

	James
    Nathanielsz	CREDITORS

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