Document:

Exhibit 10.1

 

DTHERA
SCIENCES

 

INVESTMENT
UNIT PURCHASE AGREEMENT

 

PLEASE READ THE FOLLOWING LEGENDS
CAREFULLY:

 

DTHERA SCIENCES (THE
“COMPANY”) IS OFFERING TO SELL INVESTMENT UNITS (“UNITS”), EACH UNIT COMPOSED OF (I) FOUR (4) SHARES OF
THE COMPANY’S COMMON STOCK AND (II) A WARRANT TO PURCHASE ONE ADDITIONAL SHARE OF THE COMPANY’S COMMON STOCK. THE UNITS
BEING OFFERED FOR SALE PURSUANT TO THIS AGREEMENT INVOLVE A HIGH DEGREE OF RISK AND, THEREFORE, SHOULD BE CONSIDERED EXTREMELY
SPECULATIVE. THEY SHOULD NOT BE PURCHASED BY PERSONS WHO CANNOT AFFORD THE POSSIBILITY OF THE LOSS OF THEIR ENTIRE INVESTMENT.

 

THIS AGREEMENT INVOLVES
SUBSTANTIAL RISK, INCLUDING, BUT NOT LIMITED TO, RISKS ARISING FROM THE COMPANY’S LACK OF OPERATING HISTORY, FINANCIAL ASSETS
AND REVENUES, COMPETITION, LACK OF DIVERSIFICATION, AND THE ABSENCE OF A MARKET FOR AND RESTRICTIONS ON THE TRANSFERABILITY OF
THE UNITS AND THE SECURITIES UNDERLYING SAID UNITS.

 

THIS AGREEMENT OF THE
COMPANY IS OFFERED PURSUANT TO AN EXEMPTION FROM REGISTRATION WITH THE UNITED STATES SECURITIES AND EXCHANGE COMMISSION (“SEC”)
AND APPLICABLE STATE SECURITIES COMMISSIONS. HOWEVER, THE SECURITIES AND EXCHANGE COMMISSION AND SUCH STATE COMMISSIONS HAVE NOT
MADE AN INDEPENDENT DETERMINATION THAT THE UNITS OFFERED HEREBY ARE EXEMPT FROM REGISTRATION. IN ADDITION, THE UNITS HAVE NOT BEEN
APPROVED OR DISAPPROVED BY THE SECURITIES AND EXCHANGE COMMISSION OR BY ANY SUCH STATE SECURITIES COMMISSION, NOR HAVE ANY SUCH
AGENCIES PASSED UPON THE ACCURACY OR ADEQUACY OF THIS AGREEMENT. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE.

 

PROSPECTIVE INVESTORS
ARE NOT TO CONSTRUE THE CONTENTS OF THIS AGREEMENT OR ANY PRIOR OR SUBSEQUENT COMMUNICATIONS FROM ANY OF OUR MANAGEMENT, AGENTS,
REPRESENTATIVES OR EMPLOYEES, AS INVESTMENT, LEGAL, TAX, OR ACCOUNTING ADVICE. THE PURCHASER OF THE UNITS SHOULD CONSULT ITS OWN
ATTORNEY, ACCOUNTANT AND OTHER PROFESSIONAL ADVISORS AS TO LEGAL, TAX, ACCOUNTING AND OTHER RELATED MATTERS CONCERNING THE PURCHASE
OF THE UNITS.

 

ANY REPRODUCTION OR
DISTRIBUTION OF THIS AGREEMENT, IN WHOLE OR IN PART, OR THE DIVULGENCE OF ANY OF ITS CONTENTS, WITHOUT OUR PRIOR WRITTEN CONSENT,
IS STRICTLY PROHIBITED.

 

FORMER EVERYSTORY SHAREHOLDERS:
THIS OFFERING IS BEING CONDUCTED BY THE COMPANY IN CONNECTION WITH THE COMPANY’S EFFORTS TO ALIGN THE OWNERSHIP OF THE COMPANY
MORE CLOSELY WITH THE OWNERSHIP PERCENTAGES PREVIOUSLY DISCUSSED PRIOR TO THE SHARE EXCHANGE TRANSACTION BETWEEN THE COMPANY (THEN
KNOWN AS KNOWLEDGE MACHINE INTERNATIONAL, INC.) AND THE HOLDERS OF SECURITIES OF EVERYSTORY, INC. BY SIGNING BELOW, YOU WAIVE ANY
CLAIM THAT YOU MAY HAVE AGAINST THE COMPANY RELATING TO THE SHARE EXCHANGE TRANSACTION BETWEEN THE COMPANY AND THE HOLDERS OF EVERYSTORY
SECURITIES. PLEASE SEEK LEGAL COUNSEL IF YOU HAVE ANY QUESTIONS RELATING TO THIS WAIVER.

 

THE UNITS OFFERED
FOR SALE UNDER THIS AGREEMENT ARE OFFERED SUBJECT TO WITHDRAWAL, CANCELLATION OR MODIFICATION OF THE OFFERING WITHOUT PRIOR NOTICE
TO THE PURCHASER PURSUANT TO THE TERMS OF THIS AGREEMENT; AND TO CERTAIN OTHER CONDITIONS SPECIFIED HEREIN. THE COMPANY RESERVES
THE RIGHT TO ACCEPT OR REJECT ANY AGREEMENT, IN WHOLE OR IN PART, FOR ANY REASON OR NO REASON.

 

 

 

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THE UNITS OFFERED UNDER
THIS AGREEMENT MAY BE SUBSCRIBED FOR AND PURCHASED ONLY IF A POTENTIAL INVESTOR IS AN ACCREDITED INVESTOR, AS THAT TERM IS DEFINED
IN THE GENERAL RULES AND REGULATIONS PROMULGATED PURSUANT TO THE SECURITIES ACT OF 1933, AS AMENDED.

 

THE COMMON STOCK AND
WARRANTS ARE SUBJECT TO RESTRICTIONS ON TRANSFERABILITY AND RESALE AND MAY NOT BE TRANSFERRED OR RESOLD EXCEPT AS PERMITTED UNDER
THE SECURITIES ACT, THE APPLICABLE STATE SECURITIES LAWS AND THE APPLICABLE LAWS OF ANY OTHER RELEVANT JURISDICTION PURSUANT TO
REGISTRATION OR EXEMPTION THEREFROM. IN ADDITION, THE COMMON STOCK AND WARRANTS OFFERED HEREUNDER SHALL ALSO BE SUBJECT TO LOCK
UP PERIODS AS SET FORTH IN THE AGREEMENT AND WARRANT. ACCORDINGLY, PROSPECTIVE INVESTORS SHOULD BE AWARE THAT THEY WILL BE REQUIRED
TO BEAR THE FINANCIAL RISKS OF A PURCHASE OF THE COMMON STOCK AND WARRANTS COMPRISING THE UNITS FOR AN INDEFINITE PERIOD OF TIME.
THERE IS ONLY A LIMITED MARKET FOR THE COMPANY’S COMMON STOCK AND THERE WILL BE NO PUBLIC MARKET FOR THE WARRANTS, AND THERE
IS NO OBLIGATION ON THE PART OF ANY PERSON TO REGISTER THE COMMON STOCK AND WARRANTS UNDER THE SECURITIES ACT, ANY STATE SECURITIES
LAWS OR THE SECURITIES LAWS OF ANY OTHER JURISDICTION. INVESTMENT IN THE COMMON STOCK AND WARRANTS INVOLVES CERTAIN SIGNIFICANT
INVESTMENT RISKS, INCLUDING RISKS OF LOSS OF CAPITAL OR ENTIRE INVESTMENT.

 

THIS AGREEMENT DOES
NOT CONSTITUTE AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO PURCHASE UNITS IN ANY STATE WHERE IT WOULD BE UNLAWFUL TO MAKE
SUCH AN OFFER OR SOLICITATION AND DOES NOT CONSTITUTE AN OFFER TO SELL OR SOLICITATION TO ANY MEMBER OF THE GENERAL PUBLIC. THIS
AGREEMENT CONSTITUTES AN OFFER ONLY TO THE PERSON OR ENTITY NAMED A PARTY HERETO, AND WHOSE SIGNATURE IS REQUIRED BELOW, AND ONLY
IF IT IS SIGNED ON BEHALF OF THE COMPANY. ANY DISTRIBUTION OF THIS AGREEMENT TO ANY PERSON OR ENTITY OTHER THAN THE PERSON OR ENTITY
NAMED BELOW IS UNAUTHORIZED.

 

IN MAKING AN INVESTMENT
DECISION, THE POTENTIAL INVESTOR MUST RELY ON ITS OWN EXAMINATION OF THE UNITS AND THE COMPANY, AS WELL AS THE TERMS OF THIS AGREEMENT
AND THE COMPANY’S OTHER GOVERNING DOCUMENTS.

 

THIS AGREEMENT CONTAINS
PROPRIETARY AND CONFIDENTIAL INFORMATION OF DTHERA SCIENCES; BY ACCEPTING DELIVERY OF THIS AGREEMENT THE PURCHASER AGREES NOT TO
DISCLOSE ANY INFORMATION CONTAINED HEREIN EXCEPT TO HIS OR ITS LEGAL COUNSEL AND OTHER PROFESSIONAL ADVISORS IN CONNECTION WITH
AN EVALUATION OF THE ADVISABILITY OF INVESTING IN THE COMPANY BY PURCHASING THE SECURITIES UNDER THIS AGREEMENT.

 

 

 

 

 

    	 	2	 

     

    

 

INVESTMENT UNIT
PURCHASE AGREEMENT

 

THIS INVESTMENT UNIT
PURCHASE AGREEMENT (“Agreement”) is made effective as of the _____ day of ________, 2017, by and among
Dthera Sciences, Inc., a Nevada corporation (the “Company”), and the undersigned investor (the “Investor”).

 

RECITALS

 

WHEREAS, the
Investor wishes to purchase from the Company, and the Company wishes to sell and issue to the Investor, upon the terms and conditions
stated in this Agreement, that number of investment units set forth on the signature page hereto (the “Units”),
each Unit composed of (i) FOUR (4) shares of the Company’s Common Stock priced at $0.03 per share (the “Common
Stock”) and (ii) a warrant (the “Warrant”) to purchase one additional share of the Company’s
Common Stock at $0.45 per share (the shares of Common Stock issuable upon exercise of the Warrant are referred to herein as the
“Warrant Shares”); and

 

WHEREAS, the
Company and the Investor agree to be bound by the terms of this Agreement relating to conditions, restrictions, and terms of the
Warrants and the Shares.

 

NOW, THEREFORE,
in consideration of the mutual promises made herein and for other good and valuable consideration, the receipt and sufficiency
of which are hereby acknowledged, the parties hereto agree as follows:

 

1.                 
Purchase and Issuance of the Units; Restrictions on Resale of Shares of Common Stock.

 

1.1.           
Subject to the terms and conditions of this Agreement, Investor hereby agrees to purchase, and the Company hereby agrees
to sell and issue to the Investor, the number of Units set forth opposite the Investor’s name on the signature page attached
hereto for a purchase price equal to the product of (x) the number of Units subscribed for and (y) $0.12 per Unit (the “Purchase
Price”). The Purchase Price is payable by check made payable to the order of “Dthera Sciences” or by
wire transfer of immediately available funds delivered contemporaneously herewith as follows:

 

	 	Bank Name: 	Square 1 Bank	 
	 	 	 	 
	 	Bank Address:	406 Blackwell Street, Suite 240	 
	 	 	Durham, NC 27701	 
	 	 	 	 
	 	ABA/Routing #	 	 
	 	Acct #:	 	 
	 	Acct Name: 	EveryStory, Inc.	 
	 	 	 	 
	 	FBO: 	 	 
	 	 	              (Investor
Name)	 

 

1.2.           
The shares of Common Stock purchased pursuant to the Offering are subject to restrictions on their resale as follows:

 

(a)               
One half of the shares of common stock purchased may not be resold until that date which is twelve (12) months from the
Closing Date; and

 

(b)              
The remaining one half of the shares of common stock purchased may not be resold until that date which is eighteen (18)
months from the Closing Date.

 

 

 

 

    	 	3	 

     

    

 

(c)               
The Board of Directors of the Company has the right, but not the obligation, as determined in the Board’s sole discretion,
to shorten the restrictive periods set forth above for one or more investors in this Offering, including the Investor, on a case
by case basis.

 

2.                 
Closing.

 

2.1.           
 The closing shall be held on ________________, 2017, at a mutually convenient place as the Company and the Investor mutually
shall agree upon, orally or in writing (which time and place are designated as the “Closing”; the date
of the Closing referred to hereinafter as the “Closing Date”).

 

2.2.           
At Closing, the Company shall deliver, or cause to be delivered promptly thereafter, to Investor (i) a stock certificate
representing the Common Stock in the Units purchased by Investor and (ii) a Warrant representing the Warrants in the Units purchased
by Investor, against delivery to the Company by the Investor of payment therefor by check or by wire transfer. The Company and
Investor shall also deliver such other documents as are called for herein.

 

3.                 
Representations and Warranties of the Company. The following representations and warranties are qualified in their
entirety by the SEC Filings, as defined below. Should any representation or warranty of the Company contain any term that contradicts
anything in the SEC Filings, the SEC Filing shall control. Accordingly, the Company hereby represents and warrants to the Investor
that as of the Closing Date, and subject to the aforementioned qualification that:

 

3.1.           
Organization, Good Standing and Qualification. The Company is a corporation duly organized, validly existing and
in good standing under the laws of the jurisdiction of its incorporation and has all requisite corporate power and authority to
carry on its business as now conducted and to own its properties.

 

3.2.           
Authorization. The Company has full power and authority and has taken all requisite action on the part of the Company,
its officers, directors and stockholders necessary for (i) the authorization, execution and delivery of the Transaction Documents,
(ii) the authorization of the performance of all obligations of the Company hereunder or thereunder, and (iii) the authorization,
issuance (or reservation for issuance) and delivery of the Units and the shares of Common Stock and Warrant included therein, including
the Warrant Shares (collectively, the “Securities”). The Transaction Documents constitute the legal,
valid and binding obligations of the Company, enforceable against the Company in accordance with their terms, subject to bankruptcy,
insolvency, fraudulent transfer, reorganization, moratorium and similar laws of general applicability, relating to or affecting
creditors’ rights generally.

 

3.3.           
Valid Issuance. The Common Stock, the Warrant and the transaction contemplated hereby have each been duly and validly
authorized. Upon the due exercise of the Warrant, the Warrant Shares will be validly issued, fully paid and non-assessable free
and clear of all encumbrances and restrictions, except for restrictions on transfer set forth in the Transaction Documents or imposed
by applicable securities laws and except for those created by the Investor. The Company has reserved a sufficient number of shares
of Common Stock for issuance upon the exercise of the Warrants, free and clear of all encumbrances and restrictions, except for
restrictions on transfer set forth in the Transaction Documents or imposed by applicable securities laws and except for those created
by the Investor.

 

3.4.           
Consents. The execution, delivery and performance by the Company of the Transaction Documents and the offer, issuance
and sale of the Securities require no consent of, action by or in respect of, or filing with, any Person, governmental body, agency,
or official other than filings that have been or will be made pursuant to applicable state securities laws and post-sale filings
pursuant to applicable state and federal securities laws which the Company undertakes to file within the applicable time periods.
Subject to the accuracy of the representations and warranties of Investor set forth in Section 4 hereof, the Company has taken
and will take all action necessary to exempt (i) the issuance and sale of the Securities, (ii) the issuance of the Warrant Shares
upon due exercise of the Warrant, and (iii) the other transactions contemplated by the Transaction Documents from any provision
of the Company’s Articles of Incorporation or Bylaws that is or could reasonably be expected to become applicable to the
Investor as a result of the transactions contemplated hereby. For purposes of this Agreement, “Person”
means an individual, corporation, partnership, limited liability company, trust, business trust, association, joint stock company,
joint venture, sole proprietorship, unincorporated organization, governmental authority or any other form of entity not specifically
listed herein

 

 

 

 

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3.5.           
Delivery of SEC Filings; Business. The Company has made available to the Investor through the EDGAR system maintained
by the SEC, true and complete copies of the Company’s most recent Annual Report on Form 10-K for the fiscal year ended December
31, 2016, the Company’s Quarterly Report on Form 10-Q for the fiscal quarter ended March 31, 2017, and all other reports
filed by the Company pursuant to the Securities Exchange Act of 1934 (collectively, the “SEC Filings”).
Investor is encouraged to carefully review the SEC Filings, including the specific Risk Factors set forth therein. At the time
of filing thereof, the SEC Filings complied as to form in all material respects with the requirements of the Securities Exchange
Act of 1934, as amended (the “1934 Act”) and did not contain any untrue statement of a material fact
or omit to state any material fact necessary in order to make the statements made therein, in the light of the circumstances under
which they were made, not misleading.

 

3.6.           
Use of Proceeds. The net proceeds of the issuance and sale of the Common Stock and the Warrant hereunder shall be
used by the Company for working capital and general corporate purposes. Proceeds received pursuant to this Agreement shall be immediately
available to the Company for its use.

 

3.7.           
No Conflict, Breach, Violation or Default. The execution, delivery and performance of the Transaction Documents by
the Company and the issuance and sale of the Securities will not conflict with or result in a breach or violation of any of the
terms and provisions of, or constitute a default under (i) the Company’s Articles of Incorporation or the Company’s
Bylaws, both as in effect on the date hereof (true and complete copies of which have been made available to the Investor through
the EDGAR system), or (ii) any statute, rule, regulation or order of any governmental agency or body or any court, domestic or
foreign, having jurisdiction over the Company or any of its assets or properties, or (iii) any agreement or instrument to
which the Company is a party or by which the Company is bound.

 

3.8.           
Financial Statements. The financial statements included in the SEC Filings present fairly, in all material respects,
the consolidated financial position of the Company as of the dates shown and its consolidated results of operations and cash flows
for the periods shown, and such financial statements have been prepared in conformity with United States generally accepted accounting
principles applied on a consistent basis (“GAAP”) (except as may be disclosed therein or in the notes
thereto). Except as set forth in the financial statements of the Company included in the SEC Filings filed prior to the date hereof,
the Company has not incurred any liabilities, contingent or otherwise, except those incurred in the ordinary course of business,
consistent (as to amount and nature) with past practices since the date of such financial statements, none of which, individually
or in the aggregate, have had or could reasonably be expected to have a material adverse effect on the Company.

 

3.9.           
No Directed Selling Efforts or General Solicitation. Neither the Company nor any Person acting on its behalf has
conducted any general solicitation or general advertising (as those terms are used in Regulation D of the 1933 Act) in connection
with the offer or sale of any of the Securities.

 

3.10.       
Private Placement. Subject to the accuracy of the representations and warranties of Investor set forth in Section
4 hereof, the offer and sale of the Securities to the Investor as contemplated hereby is exempt from the registration requirements
of the 1933 Act.

 

4.                 
Representations and Warranties of the Investor. Investor hereby represents and warrants to the Company that:

 

 

 

 

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4.1.           
Authorization. Investor: (i) if a natural person, represents that the Investor has reached the age of 21 and has
full power and authority to execute and deliver this Agreement and all other related agreements or certificates and to carry out
the provisions hereof and thereof; (ii) if a corporation, partnership, or limited liability company or partnership, or association,
joint stock company, trust, unincorporated organization or other entity, represents that such entity was not formed for the specific
purpose of acquiring the Securities, such entity is duly organized, validly existing and in good standing under the laws of the
state of its organization, the consummation of the transactions contemplated hereby is authorized by, and will not result in a
violation of state law or its charter or other organizational or trust documents, such entity has full power and authority to execute
and deliver this Agreement and all other related agreements or certificates and to carry out the provisions hereof and thereof
and to purchase and hold the Securities, the execution and delivery of this Agreement has been duly authorized by all necessary
action, this Agreement has been duly executed and delivered on behalf of such entity and is a legal, valid and binding obligation
of such entity; or (iii) if executing this Agreement in a representative or fiduciary capacity, represents that it has full power
and authority to execute and deliver this Agreement in such capacity and on behalf of the subscribing individual, ward, partnership,
trust, estate, corporation, or limited liability company or partnership, or other entity for whom the Investor is executing this
Agreement, and such individual, partnership, ward, trust, estate, corporation, or limited liability company or partnership, or
other entity has full right and power to perform pursuant to this Agreement and make an investment in the Company, and represents
that this Agreement constitutes a legal, valid and binding obligation of such entity. The execution and delivery of this Agreement
will not violate or be in conflict with any order, judgment, injunction, agreement or controlling document to which the Investor
is a party or by which it is bound.

 

4.2.           
Purchase Entirely for Own Account. The Securities to be received by Investor hereunder will be acquired for Investor’s
own account, not as nominee or agent, and not with a view to the resale or distribution of any part thereof in violation of the
1933 Act, and Investor has no present intention of selling, granting any participation in, or otherwise distributing the same in
violation of the 1933 Act without prejudice, however, to Investor’s right at all times to sell or otherwise dispose of all
or any part of Securities in compliance with applicable federal and state securities laws. Nothing contained herein shall be deemed
a representation or warranty by Investor to hold the Securities for any period of time. Investor is not a broker-dealer registered
with the SEC under the 1934 Act or an entity engaged in a business that would require it to be so registered.

 

4.3.           
Investment Experience. Investor acknowledges that it can bear the economic risk and complete loss of its investment
in the Securities and has such knowledge and experience in financial or business matters that it is capable of evaluating the merits
and risks of the investment contemplated hereby.

 

4.4.           
Disclosure of Information. Investor has had an opportunity to receive all information related to the Company requested
by it and to ask questions of and receive answers from the Company regarding the Company, its business and the terms and conditions
of the offering of the Securities. Investor acknowledges receipt of copies of the SEC Filings via the EDGAR system of the Securities
and Exchange Commission (www.sec.gov). Neither such inquiries nor any other due diligence investigation conducted by Investor shall
modify, amend or affect Investor’s right to rely on the Company’s representations and warranties contained in this
Agreement; provided, Investor shall not rely on representations except those expressly set forth in this Agreement.

 

4.5.           
Restricted Securities; Rule 144 Restriction Period for Common Stock; Additional Restrictions on Resale.

 

(a)               
The Common Stock and Warrant to be purchased hereunder will not be registered and shall be characterized as “restricted
securities” under the federal securities laws, and under such laws such securities may be resold without registration under
the 1933 Act only in certain limited circumstances. Each certificate evidencing Common Stock to be issued hereunder shall bear
a legend in substantially the following form:

 

THE SECURITIES EVIDENCED BY THIS CERTIFICATE
HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND MAY NOT BE SOLD,
TRANSFERRED, ASSIGNED OR HYPOTHECATED UNLESS THERE IS AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT COVERING SUCH
SECURITIES, THE SALE IS MADE IN ACCORDANCE WITH RULE 144 UNDER THE SECURITIES ACT OR THE ISSUER RECEIVES AN OPINION OF COUNSEL
FOR THE HOLDER OF THESE SECURITIES REASONABLY SATISFACTORY TO THE ISSUER, STATING THAT SUCH SALE, TRANSFER, ASSIGNMENT OR HYPOTHECATION
IS EXEMPT FROM THE REGISTRATION AND PROSPECTUS DELIVERY REQUIREMENTS OF THE SECURITIES ACT. IN ADDITION, THE SECURITIES ARE SUBJECT
TO CERTAIN RESTRICTIONS UNDER THAT CERTAIN INVESTMENT UNIT PURCHASE AGREEMENT ENTERED INTO IN CONNECTION WITH THE ISSUANCE OF THIS
CERTIFICATE.

 

 

 

 

    	 	6	 

     

    

 

(b)              
In addition, the Warrant issued hereunder shall bear a legend in substantially the following form:

 

NEITHER THIS SECURITY NOR THE SECURITIES
INTO WHICH THIS SECURITY IS EXERCISABLE HAVE 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 REASONABLY
ACCEPTABLE TO THE COMPANY TO SUCH EFFECT, THE SUBSTANCE OF WHICH SHALL BE REASONABLY ACCEPTABLE TO THE COMPANY. 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. THIS SECURITY IS SUBJECT TO CERTAIN
RESTRICTIONS DURING THE FIRST YEAR.

 

(c)               
The Investor acknowledges and agrees that, as “restricted securities,” the Common Stock to be purchased by it
may not be transferred, hypothecated, sold or otherwise disposed of until (i) a registration statement with respect to such securities
is declared effective under the 1933 Act, or (ii) the Company receives an opinion of counsel for the holder(s) of such Common Stock,
reasonably satisfactory to counsel for the Company, that an exemption from the registration requirements of the 1933 Act is available.
In addition, Investor agrees that Investor will not, for a period of not less than one (1) year from the date hereof, sell in any
public market any Common Stock, or any interest therein, purchased pursuant to this Agreement.

 

4.6.           
Accredited Investor. Investor is an accredited investor as defined in Rule 501(a) of Regulation D, as amended, under
the 1933 Act (“Accredited Investor”). By initialing the appropriate space(s) below, Investor hereby represents
that Investor falls into one of the following categories:

 

_____(i)
a bank as defined in Section 3(a)(2) of the Act, or a savings and loan association or other institution as defined in Section 3(a)(5)(A)
of the Act, whether acting in its individual or fiduciary capacity;

 

_____(ii)
a broker or dealer registered pursuant to Section 15 of the Securities Exchange Act of 1934;

 

_____(iii)
an insurance company as defined in Section 2(13) of the Act;

 

_____(iv)
an investment company registered under the Investment Company Act of 1940 (the “Investment Company Act”);

 

_____(v)a
business development company as defined in Section 2(a)(48) of the Investment Company Act;

 

 

 

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_____(vi)
a Small Business Investment Company licensed by the U.S. Small Business Administration under Section 301(c) or (d) of the Small
Business Investment Act of 1958, as amended;

 

_____(vii)
a plan established and maintained by a state, its political subdivisions, or any agency or instrumentality of a state or its political
subdivisions, for the benefit of its employees, if such plan has total assets in excess of $5,000,000;

 

_____(viii)an
employee benefit plan within the meaning of Title I of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”),
if either:

 

_____(A)
the investment decision is made by a plan fiduciary, as defined in Section 3(21) of ERISA, which is either a bank, savings
and loan association, insurance company or registered investment adviser,

 

_____(B)
the employee benefit plan has total assets in excess of $5,000,000, or

 

_____(C)
the plan is a self-directed plan with investment decisions made solely by Persons that are Accredited Investors;

 

_____(ix)a
private business development company as defined in Section 202(a)(22) of the Investment Advisers Act of 1940;

 

_____(x)an
organization described in Section 501(c)(3) of the Internal Revenue Code of 1986, as amended (the “Code”), a corporation,
a Massachusetts or similar business trust, or a partnership, in each case, not formed for the specific purpose of making an investment
in the Company, and in each case, with total assets in excess of $5,000,000;

 

_____(xi)a
director or executive officer of the Company issuing the Units being offered or sold, or a director, executive officer, or general
partner of a general partner of that issuer;

 

_____(xii)a
natural person whose individual net worth, or joint net worth with his or her spouse, excluding the value of the person’s
primary residence and any amount of debt secured by his or her primary residence incurred within the past 60 days, at the time
of his or her purchase exceeds $1,000,000;

 

_____(xiii)a
natural person who has an individual income in excess of $200,000 in each of the two most recent years or joint income with that
Person’s spouse in excess of $300,000 in each of those years and has a reasonable expectation of reaching the same income
level in the current year;

 

_____(xiv)a
trust, with total assets in excess of $5,000,000, not formed for the specific purpose of making an investment in the Company whose
purchase of the Securities offered is directed by a sophisticated Person as described in Rule 506(b)(2)(ii) of Regulation D; or

 

_____(xv)an
entity in which all of the equity owners are Accredited Investors.

 

4.7.           
No General Advertisement. Investor did not learn of the investment in the Securities as a result of any public advertisement,
article, notice or other communication regarding the Securities published in any newspaper, magazine or similar media or broadcast
over television, radio or internet or presented at any seminar or other general advertisement. Rather, Investor learned of the
investment in the Securities through its prior contact with the Company, its agents and/or its affiliates.

 

 

 

 

    	 	8	 

     

    

 

4.8.           
Prohibited Transactions. During the last thirty (30) days prior to the date hereof, neither Investor nor any affiliate
of Investor which (x) had knowledge of the transactions contemplated hereby, (y) has or shares discretion relating to Investor’s
investments or trading or information concerning Investor’s investments, including in respect of the Securities, or (z) is
subject to Investor’s review or input concerning such affiliate’s investments or trading (collectively, “Trading
Affiliates”) has, directly or indirectly, effected or agreed to effect any short sale, whether or not against the
box, established any “put equivalent position” (as defined in Rule 16a-1(h) under the 1934 Act) with respect to the
Common Stock, granted any other right (including, without limitation, any put or call option) with respect to the Common Stock
or with respect to any security that includes, relates to or derived any significant part of its value from the Common Stock or
otherwise sought to hedge its position in the Securities (each, a “Prohibited Transaction”). Prior to
the earliest to occur of (i) the date that the Registration Statement (as defined in the Registration Rights Agreement) is declared
effective by the SEC or (ii) the date on which the Registration Statement is required to be declared effective by the SEC under
the terms of the Registration Rights Agreement, Investor shall not, and shall cause its Trading Affiliates not to, engage, directly
or indirectly, in a Prohibited Transaction.

 

4.9.           
Contemporaneous Offering. By signing below, the Investor understands, acknowledges, and agrees that the Company has
another offering of its securities, separate and apart from this Offering, to certain employees and consultants of the Company
(the “Employee Offering”), whereby the Company is selling shares of its common stock, subject to different
rights and limitations from those applicable to this Offering.

 

5.                 
Conditions to Closing.

 

5.1.           
Conditions to the Investor’s Obligations. The obligation of Investor to purchase the Common Stock and the Warrant
at the Closing is subject to the fulfillment to Investor’s satisfaction, on or prior to the Closing Date, of the following
conditions, any of which may be waived by Investor:

 

(a)               
The representations and warranties made by the Company in Section 3 hereof qualified as to materiality shall be true and
correct at all times prior to and on the Closing Date, except to the extent any such representation or warranty expressly speaks
as of an earlier date, in which case such representation or warranty shall be true and correct as of such earlier date, and, the
representations and warranties made by the Company in Section 3 hereof not qualified as to materiality shall be true and correct
in all material respects at all times prior to and on the Closing Date, except to the extent any such representation or warranty
expressly speaks as of an earlier date, in which case such representation or warranty shall be true and correct in all material
respects as of such earlier date. The Company shall have performed in all material respects all obligations and covenants herein
required to be performed by it on or prior to the Closing Date.

 

(b)              
The Company shall have obtained any and all consents, permits, approvals, registrations and waivers necessary or appropriate
for consummation of the purchase and sale of the Securities and the consummation of the other transactions contemplated by the
Transaction Documents, all of which shall be in full force and effect.

 

(c)               
The Company shall have executed and delivered the Registration Rights Agreement.

 

(d)              
No judgment, writ, order, injunction, award or decree of or by any court, or judge, justice or magistrate, including any
bankruptcy court or judge, or any order of or by any governmental authority, shall have been issued, and no action or proceeding
shall have been instituted by any governmental authority, enjoining or preventing the consummation of the transactions contemplated
hereby or in the other Transaction Documents.

 

(e)               
No stop order or suspension of trading shall have been imposed by the SEC or any other governmental or regulatory body with
respect to public trading in the Common Stock.

 

5.2.           
Conditions to Obligations of the Company. The Company’s obligation to sell and issue the Common Stock and the
Warrant at the Closing is subject to the fulfillment to the satisfaction of the Company on or prior to the Closing Date of the
following conditions, any of which may be waived by the Company:

 

 

 

 

    	 	9	 

     

    

 

(a)               
The representations and warranties made by the Investor in Section 4 hereof (the “Investor Representations”),
shall be true and correct in all material respects when made, and shall be true and correct in all material respects on the Closing
Date with the same force and effect as if they had been made on and as of said date. The Investor Representations shall be true
and correct in all respects when made, and shall be true and correct in all respects on the Closing Date with the same force and
effect as if they had been made on and as of said date. The Investor shall have performed in all material respects all obligations
and covenants herein required to be performed by it on or prior to the Closing Date.

 

(b)              
The Investor shall have executed and delivered the Registration Rights Agreement.

 

(c)               
The Investor shall have delivered the Purchase Price to the Company.

 

6.                 
Covenants and Agreements of the Company.

 

6.1.           
Reservation of Common Stock. The Company shall at all times reserve and keep available out of its authorized but
unissued shares of Common Stock, solely for the purpose of providing for the exercise of the Warrant, such number of shares of
Common Stock as shall from time to time equal the number of shares sufficient to permit the exercise of the Warrant issued pursuant
to this Agreement in accordance with their respective terms.

 

6.2.           
Reports. The Company will furnish to the Investor and/or its assignees such information relating to the Company and
any subsidiaries as from time to time may reasonably be requested by the Investor and/or its assignees; provided, however, that
the Company shall not disclose material nonpublic information to the Investor, or to advisors to or representatives of the Investor,
unless prior to disclosure of such information the Company identifies such information as being material nonpublic information
and provides the Investor, such advisors and representatives with the opportunity to accept or refuse to accept such material nonpublic
information for review and any Investor wishing to obtain such information enters into an appropriate confidentiality agreement
with the Company with respect thereto.

 

6.3.           
No Conflicting Agreements. The Company will not take any action, enter into any agreement or make any commitment
that would conflict or interfere in any material respect with the Company’s obligations to the Investor under the Transaction
Documents.

 

6.4.           
Compliance with Laws. The Company will comply in all material respects with all applicable laws, rules, regulations,
orders and decrees of all governmental authorities.

 

6.5.           
Termination of Covenants. The provisions of Sections 6.2 through 6.4 shall terminate and be of no further force and
effect on earlier to occur of (i) the date on which the Company’s obligations under the Registration Rights Agreement to
register or maintain the effectiveness of any registration covering the Registrable Securities (as such term is defined in the
Registration Rights Agreement) shall terminate; or (ii) Rule 144 becoming available to the Investor with respect to the resale
of the applicable Securities then held by Investor.

 

7.                 
Survival and Indemnification.

 

7.1.           
Survival. The representations, warranties, covenants and agreements contained in this Agreement shall survive the
Closing of the transactions contemplated by this Agreement.

 

7.2.           
Indemnification.

 

(a)            
By the Investor. Investor agrees to indemnify and hold harmless the Company and its affiliates and their respective
directors, officers, employees and agents from and against any and all losses, claims, damages, liabilities and expenses (including
without limitation reasonable attorney fees and disbursements and other expenses incurred in connection with investigating, preparing
or defending any action, claim or proceeding, pending or threatened and the costs of enforcement thereof) (collectively, “Losses”)
to which the Company may become subject as a result of any breach of representation, warranty, covenant or agreement made by or
to be performed on the part of Investor under the Transaction Documents, and will reimburse the Company for all such amounts as
they are incurred by the Company.

 

 

 

 

    	 	10	 

     

    

 

8.                 
Miscellaneous.

 

8.1.           
Successors and Assigns. This Agreement may not be assigned by a party hereto without the prior written consent of
the Company or the Investor, as applicable, provided, however, that Investor may assign its rights and delegate its duties hereunder
in whole or in part to an affiliate or to a third party acquiring some or all of its Securities in a private transaction without
the prior written consent of the Company, after notice duly given by Investor to the Company, provided, that no such assignment
or obligation shall affect the obligations of Investor hereunder. The provisions of this Agreement shall inure to the benefit of
and be binding upon the respective permitted successors and assigns of the parties. Nothing in this Agreement, express or implied,
is intended to confer upon any party other than the parties hereto or their respective successors and assigns any rights, remedies,
obligations, or liabilities under or by reason of this Agreement, except as expressly provided in this Agreement.

 

8.2.           
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 instrument. This Agreement may also be executed and transmitted via
electronic transmission, which shall be deemed an original.

 

8.3.           
Titles and Subtitles. The titles and subtitles used in this Agreement are used for convenience only and are not to
be considered in construing or interpreting this Agreement.

 

8.4.           
Notices. Unless otherwise provided, any notice required or permitted under this Agreement shall be given in writing
and shall be deemed effectively given as hereinafter described (i) if given by personal delivery, then such notice shall be deemed
given upon such delivery, (ii) if given by telex or telecopier, then such notice shall be deemed given upon receipt of confirmation
of complete transmittal, (iii) if given by mail, then such notice shall be deemed given upon the earlier of (A) receipt of such
notice by the recipient or (B) three days after such notice is deposited in first class mail, postage prepaid, and (iv) if given
by an internationally recognized overnight air courier, then such notice shall be deemed given one business day after delivery
to such carrier. All notices shall be addressed to the party to be notified at the address as follows, or at such other address
as such party may designate by ten days’ advance written notice to the other party:

 

If to the Company:

 

Dthera Sciences

9921 Carmel Mountain Road, Suite
118

San Diego, CA 92129

Attention: Edward Cox, CEO

 

With a copy to:

 

Kirton McConkie, PC

50 E. South Temple, Suite 400

Salt Lake City, Utah 84111

Attention: C. Parkinson Lloyd,
Esq.

 

If to the Investor:

 

to the addresses
set forth on the signature page hereto.

 

8.5.           
Expenses. The parties hereto shall pay their own costs and expenses in connection herewith. In the event that legal
proceedings are commenced by any party to this Agreement against another party to this Agreement in connection with this Agreement
or the other Transaction Documents, the party which does not prevail in such proceedings shall pay the reasonable attorneys’
fees and other reasonable out-of-pocket costs and expenses incurred by the prevailing party in such proceedings.

 

 

 

    	 	11	 

     

    

 

8.6.           
Amendments and Waivers. Any term of this Agreement may be amended and the observance of any term of this Agreement
may be waived (either generally or in a particular instance and either retroactively or prospectively), only with the written consent
of the Company and the Investor. 

 

8.7.           
Severability. Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall, as to
such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions
hereof but shall be interpreted as if it were written so as to be enforceable to the maximum extent permitted by applicable law,
and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in
any other jurisdiction. To the extent permitted by applicable law, the parties hereby waive any provision of law which renders
any provision hereof prohibited or unenforceable in any respect.

 

8.8.           
Entire Agreement. This Agreement, including the other Transaction Documents, constitutes the entire agreement among
the parties hereof with respect to the subject matter hereof and thereof and supersede all prior agreements and understandings,
both oral and written, between the parties with respect to the subject matter hereof and thereof.

 

8.9.           
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.

 

8.10.       
Governing Law; Consent to Jurisdiction; Waiver of Jury Trial. This Agreement shall be governed by, and construed
in accordance with, the internal laws of the State of California without regard to the choice of law principles thereof. Each of
the parties hereto irrevocably submits to the exclusive jurisdiction of the state and federal courts located in San Diego County,
California for the purpose of any suit, action, proceeding or judgment relating to or arising out of this Agreement and the transactions
contemplated hereby. Service of process in connection with any such suit, action or proceeding may be served on each party hereto
anywhere in the world by the same methods as are specified for the giving of notices under this Agreement. Each of the parties
hereto irrevocably consents to the jurisdiction of any such court in any such suit, action or proceeding and to the laying of venue
in such court. Each party hereto irrevocably waives any objection to the laying of venue of any such suit, action or proceeding
brought in such courts and irrevocably waives any claim that any such suit, action or proceeding brought in any such court has
been brought in an inconvenient forum. EACH OF THE PARTIES HERETO WAIVES ANY RIGHT TO REQUEST A TRIAL BY JURY IN ANY LITIGATION
WITH RESPECT TO THIS AGREEMENT AND REPRESENTS THAT COUNSEL HAS BEEN CONSULTED SPECIFICALLY AS TO THIS WAIVER.

 

8.11.       
Company Acceptance. This Agreement is not binding on the Company unless and until the Company executes the signature
page set forth below.

 

[signature page follows]

 

 

 

 

    	 	12	 

     

    

 

The undersigned has (have) executed this
Investment Unit Purchase Agreement on this ____day of __________ 2017.

 

The Investor:

 

	 	 	 
	
        Signature
	 	
        Signature of Spouse/Partner
(if applicable)

	 	 	 
	 	 	 
	Individual or Entity Name (and
Title, if applicable) 	 	Name 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	Address	 	Address
	 	 	 
	 	 	 
	Federal Identification or Social
Security No.	 	Federal Identification or Social Security
        No.
	 	 	 
	 	 	 
	State of Domicile/Organization/Incorporation	 	 

 

 

	Additional Information for Notice:	Facsimile:	 
	 	Email:	 

 

	Aggregate Purchase Price:	$	 	 
	 	 	 	 	 	 
	Number of Units:	 	 	 	 
	 	 	 	 	 	 
	 	Shares:	 	 	 	 
	 	 	 	 	 	 
	 	Warrants:	 	 	 	 
	 	 	 	 	 	 

 

	Date:	, 2017	 

 

 

 

 

 

    	 	13	 

     

    

 

IN WITNESS WHEREOF,
the Company has executed this Investment Unit Purchase Agreement or caused its duly authorized officer to execute this Agreement
as of the date set forth below.

 

	The Company:	DTHERA SCIENCES
	 	 	 
	 	 	 
	 	By:	 
	 	Name:
	 	Title:
	 	 	 
	 	Date of Execution: _______ ___, 2017

 

 

 

 

 

 

 

    	 	14Exhibit 10.2

 

NEITHER
THIS SECURITY NOR THE SECURITIES INTO WHICH THIS SECURITY IS EXERCISABLE HAVE 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 REASONABLY ACCEPTABLE TO THE COMPANY TO SUCH EFFECT, THE SUBSTANCE OF WHICH SHALL BE REASONABLY
ACCEPTABLE TO THE COMPANY. 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. THIS SECURITY IS SUBJECT TO CERTAIN RESTRICTIONS DURING THE FIRST YEAR.

 

SUBJECT TO THE PROVISIONS OF SECTION
10 HEREOF, THIS WARRANT SHALL BE VOID AFTER 5:00 P.M. EASTERN TIME ON __________________, 2021 (THE “EXPIRATION DATE”).

 

_________________, 2017

 

DTHERA
SCIENCES

 

WARRANT
TO PURCHASE SHARES OF

COMMON STOCK

 

For
VALUE RECEIVED, _____________________________ (“Warrantholder”) is entitled to purchase, subject to the
provisions and conditions of this Warrant (the “Warrant”), from Dthera Sciences, a Nevada corporation
(“Company”), at any time and not later than 5:00 P.M., Eastern time, on the Expiration Date (as defined
above), at an exercise price per share equal to $0.45 (the exercise price in effect being herein called the “Warrant
Price”), that number of shares (“Warrant Shares”) of the Company’s Common Stock (“Common
Stock”) as set forth on the Signature Page hereto. The number of Warrant Shares purchasable upon exercise of this
Warrant and the Warrant Price shall be subject to adjustment from time to time as described herein.

 

Section 1.               
Record Keeping. The Company shall maintain books for the transfer and registration of the Warrant for purposes of
the Company’s books and records. Upon the initial issuance of this Warrant, the Company shall issue and register the Warrant
in the name of the Warrantholder on the Company’s books and records.

 

Section 2.               
Transfers. As provided herein, this Warrant may be transferred only pursuant to a registration statement filed under
the Securities Act of 1933, as amended (the “Securities Act”), or an exemption from such registration.
Subject to such restrictions, the Company shall transfer this Warrant from time to time upon the books to be maintained by the
Company for that purpose, upon surrender hereof for transfer, properly endorsed or accompanied by appropriate instructions for
transfer and such other documents as may be reasonably required by the Company, including, if required by the Company, an opinion
of its counsel to the effect that such transfer is exempt from the registration requirements of the Securities Act, to establish
that such transfer is being made in accordance with the terms hereof, and a new Warrant shall be issued to the transferee and the
surrendered Warrant shall be canceled by the Company.

 

 

 

 

    	 	1	 

     

    

 

Section 3.               
Exercise of Warrant; Mandatory Exercise Period; Forfeiture of Warrants.

 

(a)               
Subject to Section ____ below, the Warrant shall not be exercisable until __________________________, 2019 (the “Warrant
Exercisable Date”), at which time, the entire Warrant shall become exercisable.

 

(b)              
If, during the term of the Warrant, including prior to the Warrant Exercisable Date, the Company’s common stock trades
on the NASDAQ or another national exchange at price of more than $2.50 for 30 consecutive trading days, then the holders of the
Warrants shall have thirty (30) days to exercise the Warrants (the “Mandatory Exercise Period”). After the 30-day Mandatory
Exercise Period terminates, any unexercised Warrants will be forfeited, and the Warrantholder shall lose any and all rights to
such unexercised Warrants.

 

(c)               
Subject to the provisions hereof, the Warrantholder may exercise this Warrant, subject and pursuant to Warrant Exercisable
Date and the Mandatory Exercise Period descriptions set forth above, at any time prior to the Expiration Date, upon surrender of
the Warrant, together with delivery of a duly executed Warrant exercise form, in the form attached hereto as Appendix A (the “Notice
of Exercise”) and payment by cash, certified check or wire transfer of funds of the aggregate Warrant Price for that
number of Warrant Shares then being purchased, to the Company during normal business hours on any business day at the Company’s
principal executive offices (or such other office or agency of the Company as it may designate by notice to the Warrantholder).
The Warrant Shares so purchased shall be deemed to be issued to the Warrantholder or the Warrantholder’s designee, as the
record owner of such shares, as of the close of business on the date on which this Warrant shall have been surrendered (or the
date evidence of loss, theft or destruction thereof and security or indemnity satisfactory to the Company has been provided to
the Company), the Warrant Price shall have been paid and the completed Notice of Exercise shall have been delivered. Certificates
for the Warrant Shares so purchased shall be delivered to the Warrantholder within a reasonable time after this Warrant shall have
been so exercised. The certificates so delivered shall be in such denominations as may be requested by the Warrantholder and shall
be registered in the name of the Warrantholder or such other name as shall be designated by the Warrantholder, as specified in
the Notice of Exercise. If this Warrant shall have been exercised only in part, then, unless this Warrant has expired, the Company
shall, at its expense, at the time of delivery of such certificates, deliver to the Warrantholder a new Warrant representing the
right to purchase the number of shares with respect to which this Warrant shall not then have been exercised. As used herein, “business
day” means a day, other than a Saturday or Sunday, on which banks in New York City, New York are open for the general transaction
of business. Each exercise hereof shall constitute the re-affirmation by the Warrantholder that the representations and warranties
contained in that certain Investment Unit Purchase Agreement entered into by and between the Company and the Warrantholder (the
“Purchase Agreement”) are true and correct in all material respects with respect to the Warrantholder
as of the time of such exercise. Notwithstanding the foregoing, to effect the exercise of the Warrant hereunder, the Warrantholder
shall not be required to physically surrender this Warrant to the Company unless the entire Warrant is exercised. The Warrantholder
and the Company shall maintain records showing the amount exercised and the dates of such exercise. The Warrantholder and any assignee,
by acceptance of this Warrant, acknowledge and agree that, by reason of the provision of the paragraph, following exercise of a
portion of the Warrant, the number of Warrant Shares of this Warrant may be less than the amount stated on the face hereof.

 

(d)              
Company’s Failure to Timely Deliver Securities. If within seven (7) Trading Days after the Company’s
receipt of the facsimile copy of a Notice of Exercise the Company shall fail to issue and deliver a certificate to the Warrantholder
and register such shares of Common Stock on the Company’s share register or, if the Company’s common shares are publicly
trading, credit the Warrantholder’s balance account with the Depository Trust & Clearing Corporation for the number of
shares of Common Stock to which the Warrantholder is entitled upon the Warrantholder’s exercise hereunder.

 

 

 

 

    	 	2	 

     

    

 

Section 4.               
Compliance with the Securities Act of 1933. This Warrant may only be exercised by the Warrantholder if the Warrantholder
is an “accredited investor” as defined by Rule 501 of Regulation D. The Company may cause the legend set forth on the
first page of this Warrant to be set forth on each Warrant, and a similar legend on any security issued or issuable upon exercise
of this Warrant, unless counsel for the Company is of the opinion as to any such security that such legend is unnecessary.

 

Section 5.               
Payment of Taxes. The Company will pay any documentary stamp taxes attributable to the initial issuance of Warrant
Shares issuable upon the exercise of the Warrant; provided, however, that the Company shall not be required to pay any tax or taxes
which may be payable in respect of any transfer involved in the issuance or delivery of any certificates for Warrant Shares in
a name other than that of the Warrantholder in respect of which such shares are issued, and in such case, the Company shall not
be required to issue or deliver any certificate for Warrant Shares or any Warrant until the person requesting the same has paid
to the Company the amount of such tax or has established to the Company’s reasonable satisfaction that such tax has been
paid. The Warrantholder shall be responsible for income taxes due under federal, state or other law, if any such tax is due.

 

Section 6.               
Mutilated or Missing Warrants. In case this Warrant shall be mutilated, lost, stolen, or destroyed, the Company shall
issue in exchange and substitution of and upon surrender and cancellation of the mutilated Warrant, or in lieu of and substitution
for the Warrant lost, stolen or destroyed, a new Warrant of like tenor and for the purchase of a like number of Warrant Shares,
but only upon receipt of evidence reasonably satisfactory to the Company of such loss, theft or destruction of the Warrant, and
with respect to a lost, stolen or destroyed Warrant, reasonable indemnity or bond with respect thereto, if requested by the Company.

 

Section 7.               
Reservation of Common Stock. At any time when this Warrant is exercisable, the Company shall at all applicable times
keep reserved until issued (if necessary) as contemplated by this Section 7, out of the authorized and unissued shares of Common
Stock, at least a number of shares of Common Stock equal to 100% of the number of shares of Common Stock as shall from time to
time be necessary to effect the exercise of all of this Warrant then outstanding. The Company agrees that all Warrant Shares issued
upon due exercise of the Warrant shall be, at the time of delivery of the certificates for such Warrant Shares, duly authorized,
validly issued, fully paid and non-assessable shares of Common Stock of the Company.

 

Section 8.               
Adjustments.

 

(a)               
If the Company shall, at any time or from time to time while this Warrant is outstanding, pay a dividend or make a distribution
on its Common Stock in shares of Common Stock, subdivide its outstanding shares of Common Stock into a greater number of shares
or combine its outstanding shares of Common Stock into a smaller number of shares or issue by reclassification of its outstanding
shares of Common Stock any shares of its capital stock (including any such reclassification in connection with a consolidation
or merger in which the Company is the continuing corporation), then (i) the Warrant Price in effect immediately prior to the date
on which such change shall become effective shall be adjusted by multiplying such Warrant Price by a fraction, the numerator of
which shall be the number of shares of Common Stock outstanding immediately prior to such change and the denominator of which shall
be the number of shares of Common Stock outstanding immediately after giving effect to such change and (ii) the number of Warrant
Shares purchasable upon exercise of this Warrant shall be adjusted by multiplying the number of Warrant Shares purchasable upon
exercise of this Warrant immediately prior to the date on which such change shall become effective by a fraction, the numerator
of which is shall be the Warrant Price in effect immediately prior to the date on which such change shall become effective and
the denominator of which shall be the Warrant Price in effect immediately after giving effect to such change, calculated in accordance
with clause (i) above. Such adjustments shall be made successively whenever any event listed above shall occur.

 

 

 

    	 	3	 

     

    

 

(b)              
If any capital reorganization, reclassification of the capital stock of the Company, consolidation or merger of the Company
with another corporation in which the Company is not the survivor, or sale, transfer or other disposition of all or substantially
all of the Company’s assets to another corporation shall be effected, then, as a condition of such reorganization, reclassification,
consolidation, merger, sale, transfer or other disposition, lawful and adequate provision shall be made whereby each Warrantholder
shall thereafter have the right to purchase and receive upon the basis and upon the terms and conditions herein specified and in
lieu of the Warrant Shares immediately theretofore issuable upon exercise of the Warrant, such shares of stock, securities or assets
as would have been issuable or payable with respect to or in exchange for a number of Warrant Shares equal to the number of Warrant
Shares immediately theretofore issuable upon exercise of the Warrant, had such reorganization, reclassification, consolidation,
merger, sale, transfer or other disposition not taken place, and in any such case appropriate provision shall be made with respect
to the rights and interests of each Warrantholder to the end that the provisions hereof (including, without limitation, provision
for adjustment of the Warrant Price) shall thereafter be applicable, as nearly equivalent as may be practicable in relation to
any shares of stock, securities or assets thereafter deliverable upon the exercise hereof. The Company shall not effect any such
consolidation, merger, sale, transfer or other disposition unless prior to or simultaneously with the consummation thereof the
successor corporation (if other than the Company) resulting from such consolidation or merger, or the corporation purchasing or
otherwise acquiring such assets or other appropriate corporation or entity shall assume the obligation to deliver to the Warrantholder,
at the last address of the Warrantholder appearing on the books of the Company, such shares of stock, securities or assets as,
in accordance with the foregoing provisions, the Warrantholder may be entitled to purchase, and the other obligations under this
Warrant. The provisions of this paragraph (b) shall similarly apply to successive reorganizations, reclassifications, consolidations,
mergers, sales, transfers or other dispositions.

 

(c)               
In case the Company shall fix a payment date for the making of a distribution to all holders of Common Stock (including
any such distribution made in connection with a consolidation or merger in which the Company is the continuing corporation) of
evidences of indebtedness or assets (other than cash dividends or cash distributions payable out of consolidated earnings or earned
surplus or dividends or distributions referred to in Section 8(a)), or subscription rights or warrants, the Warrant Price to be
in effect after such payment date shall be determined by multiplying the Warrant Price in effect immediately prior to such payment
date by a fraction, the numerator of which shall be the total number of shares of Common Stock outstanding multiplied by the Market
Price per share of Common Stock immediately prior to such payment date, less the fair market value (as determined by the Company’s
Board of Directors in good faith) of said assets or evidences of indebtedness so distributed, or of such subscription rights or
warrants, and the denominator of which shall be the total number of shares of Common Stock outstanding multiplied by such Market
Price per share of Common Stock immediately prior to such payment date.

 

(d)              
An adjustment to the Warrant Price shall become effective immediately after the payment date in the case of each dividend
or distribution and immediately after the effective date of each other event which requires an adjustment.

 

(e)               
In the event that, as a result of an adjustment made pursuant to this Section 8, the Warrantholder shall become entitled
to receive any shares of capital stock of the Company other than shares of Common Stock, the number of such other shares so receivable
upon exercise of this Warrant shall be subject thereafter to adjustment from time to time in a manner and on terms as nearly equivalent
as practicable to the provisions with respect to the Warrant Shares contained in this Warrant.

 

 

 

 

    	 	4	 

     

    

 

(f)               
To the extent permitted by applicable law and the listing requirements of any stock market or exchange on which the Common
Stock is then listed, the Company from time to time may decrease the Warrant Price by any amount for any period of time if the
period is at least twenty (20) days, the decrease is irrevocable during the period and the Board shall have made a determination
that such decrease would be in the best interests of the Company, which determination shall be conclusive provided however,
that the Warrant Price may not be decreased below the Market Price on the date of the execution of the Subscription Agreement.
Whenever the Warrant Price is decreased pursuant to the preceding sentence, the Company shall provide written notice thereof to
the Warrantholder at least five (5) days prior to the date the decreased Warrant Price takes effect, and such notice shall state
the decreased Warrant Price and the period during which it will be in effect.

 

Section 9.               
Fractional Interest. The Company shall not be required to issue fractions of Warrant Shares upon the exercise of
this Warrant. If any fractional share of Common Stock would, except for the provisions of the first sentence of this Section 9,
be deliverable upon such exercise, the Company, in lieu of delivering such fractional share, shall pay to the exercising Warrantholder
an amount in cash equal to the Market Price (determined in accordance with Section 3(b)) of such fractional share of Common Stock
on the date of exercise.

 

Section 10.           
Benefits. Nothing in this Warrant shall be construed to give any person, firm or corporation (other than the Company
and the Warrantholder) any legal or equitable right, remedy or claim, it being agreed that this Warrant shall be for the sole and
exclusive benefit of the Company and the Warrantholder.

 

Section 11.           
Notices to Warrantholder. Upon the happening of any event requiring an adjustment of the Warrant Price, the Company
shall promptly give written notice thereof to the Warrantholder at the address appearing in the records of the Company, stating
the adjusted Warrant Price and the adjusted number of Warrant Shares resulting from such event and setting forth in reasonable
detail the method of calculation and the facts upon which such calculation is based. Failure to give such notice to the Warrantholder
or any defect therein shall not affect the legality or validity of the subject adjustment.

 

Section 12.           
Identity of Transfer Agent. The Transfer Agent for the Common Stock is Interwest Transfer Co., Inc., in Salt Lake
City, Utah. Upon the appointment of any subsequent transfer agent for the Common Stock or other shares of the Company’s capital
stock issuable upon the exercise of the rights of purchase represented by the Warrant, the Company will mail to the Warrantholder
a statement setting forth the name and address of such transfer agent.

 

Section 13.           
Notices. Unless otherwise provided, any notice required or permitted under this Warrant shall be given in writing
and shall be deemed effectively given and received as hereinafter described (i) if given by personal delivery, then such notice
shall be deemed received upon such delivery, (ii) if given by telex or facsimile, then such notice shall be deemed received upon
receipt of confirmation of complete transmittal, (iii) if given by certified mail return receipt requested, then such notice shall
be deemed received upon the day such return receipt is signed, and (iv) if given by an internationally recognized overnight air
courier, then such notice shall be deemed given one business day after delivery to such carrier. Copies of such notices shall also
be transmitted by email to the email address provided for on the signature page of the Subscription Agreement. All notices shall
be addressed as follows: if to the Warrantholder, at its address as set forth in the Company’s books and records and, if
to the Company, at the address as follows, or at such other address as the Warrantholder or the Company may designate by ten days’
advance written notice to the other:

 

 

 

    	 	5	 

     

    

 

If to the Company:

 

Dthera Sciences

9921 Carmel
Mountain Road, Suite 118

San Diego,
CA 92129

Attention: Edward Cox, CEO

 

With a copy to (which copy shall
not constitute notice):

 

Kirton | McConkie

50 E. South Temple, Suite 400

Salt Lake City, UT 84111

Attention: C. Parkinson Lloyd

 

Section 14.           
Successors. All the covenants and provisions hereof by or for the benefit of the Warrantholder shall bind and inure
to the benefit of its respective successors and assigns hereunder.

 

Section 15.           
Governing Law; Consent to Jurisdiction; Waiver of Jury Trial. This Warrant shall be governed by, and construed in
accordance with, the internal laws of the State of California, without reference to the choice of law provisions thereof. The Company
and, by accepting this Warrant, the Warrantholder, each irrevocably submits to the exclusive jurisdiction of the courts of the
State of California located in San Diego County and the United States District Court for the Southern District of California for
the purpose of any suit, action, proceeding or judgment relating to or arising out of this Warrant and the transactions contemplated
hereby. Service of process in connection with any such suit, action or proceeding may be served on each party hereto anywhere in
the world by the same methods as are specified for the giving of notices under this Warrant. The Company and, by accepting this
Warrant, the Warrantholder, each irrevocably consents to the jurisdiction of any such court in any such suit, action or proceeding
and to the laying of venue in such court. The Company and, by accepting this Warrant, the Warrantholder, each irrevocably waives
any objection to the laying of venue of any such suit, action or proceeding brought in such courts and irrevocably waives any claim
that any such suit, action or proceeding brought in any such court has been brought in an inconvenient forum.

 

EACH OF THE COMPANY
AND, BY ITS ACCEPTANCE HEREOF, THE WARRANTHOLDER HEREBY WAIVES ANY RIGHT TO REQUEST A TRIAL BY JURY IN ANY LITIGATION WITH RESPECT
TO THIS WARRANT AND REPRESENTS THAT COUNSEL HAS BEEN CONSULTED SPECIFICALLY AS TO THIS WAIVER.

 

Section 16.           
No Rights as Stockholder. Prior to the exercise of this Warrant, the Warrantholder shall not have or exercise any
rights as a stockholder of the Company by virtue of its ownership of this Warrant.

 

Section 17.           
Amendment; Waiver. Any term of this Warrant may be amended or waived (including the adjustment provisions included
in Section 8 of this Warrant) upon the written consent of the Company and the holders of Warrants representing at least 50.1% of
the number of shares of Common Stock then subject to all outstanding Warrants (the “Majority Holders”);
provided, that (x) any such amendment or waiver must apply to all Warrants; and (y) the number of Warrant Shares subject
to this Warrant, the Warrant Price and the Expiration Date may not be amended, and the right to exercise this Warrant may not be
altered or waived, without the written consent of the Warrantholder.

 

 

 

 

    	 	6	 

     

    

 

Section 18.           
Remedies; Other Obligations; Breaches and Injunctive Relief. The remedies provided in this Warrant shall be cumulative
and in addition to all other remedies available under this Warrant and the other Transaction Documents, at law or in equity (including
a decree of specific performance and/or other injunctive relief), and nothing herein shall limit the right of the Warrantholder
right to pursue actual damages for any failure by the Company to comply with the terms of this Warrant. The Company acknowledges
that a breach by it of its obligations hereunder will cause irreparable harm to the Warrantholder and that the remedy at law for
any such breach may be inadequate. The Company therefore agrees that, in the event of any such breach or threatened breach, the
Warrantholder shall be entitled, in addition to all other available remedies, an injunction restraining any breach, without the
necessity of showing economic loss and without any bond or other security being required.

 

Section 19.           
Section Headings. The section headings in this Warrant are for the convenience of the Company and the Warrantholder
and in no way alter, modify, amend, limit or restrict the provisions hereof.

 

IN WITNESS WHEREOF,
the Company has caused this Warrant to be duly executed, as of the _____ day of _____________, 2017.

 

 

DTHERA
SCIENCES

 

 

 

By:________________________________________

Name: Edward Cox

Title:   Chief Executive Officer

 

 

 

NUMBER OF WARRANTS GRANTED: __________________________________________

 

 

 

 

 

    	 	7	 

     

    

 

APPENDIX
A

 

DTHERA
SCIENCES

NOTICE OF EXERCISE FORM

 

To Dthera Sciences:

 

The undersigned hereby
irrevocably elects to exercise the right of purchase represented by the within Warrant (“Warrant”) for,
and to purchase thereunder by the payment of the Warrant Price and surrender of the Warrant, _______________ shares of Common Stock
(“Warrant Shares”) provided for therein, and requests that certificates for the Warrant Shares be issued
as follows:

 

	 
	Name
	 
	 
	 
	Address
	 
	 
	Federal Tax ID or Social Security No.

 

and delivered by certified mail
to the above address, or (if the Company’s Common Stock is publicly traded) electronically (provide DWAC Instructions):

 

_____________________________________

 

_____________________________________

 

_____________________________________

 

or other (specify):

 

_____________________________________

 

_____________________________________

 

_____________________________________

 

and, if the number of Warrant Shares shall
not be all the Warrant Shares purchasable upon exercise of the Warrant, that a new Warrant for the balance of the Warrant Shares
purchasable upon exercise of this Warrant be registered in the name of the undersigned Warrantholder or the undersigned’s
Assignee as below indicated and delivered to the address stated below.

 

[Signature page follows.]

 

 

 

 

 

Appendix A

Warrant Exercise Form

    	 	 	 

     

    

 

Dated: ___________________, ____

 

 

 

	 	 	 
	
        Signature
	 	
        Signature of Spouse/Partner
(if applicable)

	 	 	 
	 	 	 
	Individual or Entity Name (and
Title, if applicable) 	 	Name (please print) 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	Address	 	Address
	 	 	 
	 	 	 
	Federal Identification or Social
Security No.	 	Federal Identification or Social Security
        No.
	 	 	 
	 	 	Assignee:

	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	Note: The signature must correspond
with the name of the Warrantholder as written on the first page of the Warrant in every particular, without alteration or enlargement
or any change whatever, unless the Warrant has been assigned.

	 	 
	 	 	 

 

 

 

 

 

 

 

 

Appendix A

Warrant Exercise Form

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