Document:

Exhibit 10.1

EQUITY PURCHASE AGREEMENT

 

THIS EQUITY
PURCHASE AGREEMENT (this “Agreement”) is entered into as of June 21, 2022 (the “Execution Date”),
by and between King Resources, Inc., a Delaware corporation (the “Company”), and Williamsburg Venture Holdings, LLC,
a Nevada limited liability company (the “Investor”).

 

RECITALS

 

WHEREAS,
the parties desire that, upon the terms and subject to the conditions contained herein, the Company shall issue and sell to the Investor,
from time to time as provided herein, and the Investor shall purchase from the Company up to Twenty Million Dollars ($20,000,000.00) of
the Company’s Common Stock (as defined below);

 

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

 

ARTICLE
I

CERTAIN DEFINITIONS

 

Section 1.1
RECITALS. The parties acknowledge and agree that the recitals set forth above are true and correct and are hereby incorporated
in and made a part of this Agreement.

 

Section 1.2 DEFINED
TERMS. As used in this Agreement, the following terms shall have the following meanings specified or indicated (such meanings to be
equally applicable to both the singular and plural forms of the terms defined):

 

“Agreement” shall have the meaning specified
in the preamble hereof.

 

“Available
Amount” means, initially, the Maximum Commitment Amount, which amount shall be reduced by the Investment Amount following each
successful Closing, each time the Investor purchases shares of Common Stock pursuant to a Put.

 

“Average
Daily Trading Volume” shall mean the average trading volume of the Company’s Common Stock in the ten (10) Trading Days
immediately preceding the respective Put Date.

 

“Bankruptcy Law”
means Title 11, U.S. Code, or any similar federal or state law for the relief of debtors.

 

“Claim Notice” shall have the meaning specified
in Section 9.3(a).

 

“Clearing Costs” shall mean all of the
Investor’s broker and Transfer Agent fees.

 

“Clearing Date”
shall be the date on which the Investor receives the Put Shares as DWAC Shares in its brokerage account.

 

“Closing” shall
mean one of the closings of a purchase and sale of shares of Common Stock pursuant to Section 2.3.

 

“Closing Certificate”
shall mean the closing “Officer’s Certificate” of the Company in the form of Exhibit B hereto.

 

“Closing Date” shall mean the date of any
Closing hereunder.

 

“Commitment
Period” shall mean the period commencing on the Execution Date, and ending on the earlier of (i) the date on which the Investor
shall have purchased Put Shares pursuant to this Agreement equal to the Maximum Commitment Amount, (ii) June 21, 2025, or (iii) written
notice of termination by the Company to the Investor (which shall not occur at any time that the Investor holds any of the Put Shares).

 

 

 

 

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“Commitment
Shares” means 525,000,000 shares of Common Stock issued by the Company to the Investor pursuant to Section 6.5.

 

“Common
Stock” shall mean the Company’s common stock, $0.001 par value per share, and any shares of any other class of common
stock whether now or hereafter authorized, having the right to participate in the distribution of dividends (as and when declared) and
assets (upon liquidation of the Company).

 

“Common
Stock Equivalents” means any securities of the Company or the Subsidiaries which would entitle the holder thereof to acquire
at any time Common Stock, including, without limitation, any debt, preferred stock, right, option, warrant or other instrument that is
at any time convertible into or exercisable or exchangeable for, or otherwise entitles the holder thereof to receive, Common Stock.

 

“Company” shall
have the meaning specified in the preamble to this Agreement.

 

“Confidential
Information” means any information disclosed by either party to this Agreement, or their affiliates, agents or representatives,
to the other party to this Agreement, either directly or indirectly, in writing, orally or by inspection of tangible objects (including,
without limitation, documents, formulae, business information, trade secrets, technology, strategies. prototypes, samples, plant and equipment),
which may or may not be designated as “Confidential,” “Proprietary” or some similar designation. Information communicated
orally shall be considered Confidential Information if such information is confirmed in writing as being Confidential Information within
ten (10) Trading Days after the initial disclosure. Confidential Information may also include information disclosed by third parties.
Confidential Information shall not, however, include any information which (i) was publicly known and made generally available in the
public domain prior to the time of disclosure by the disclosing party; (ii) becomes publicly known and made generally available after
disclosure by the disclosing party to the receiving party through no fault, action or inaction of the receiving party; (iii) is already
in the possession of the receiving party at the time of disclosure by the disclosing party as shown by the receiving party’s files
and records immediately prior to the time of disclosure; (iv) is obtained by the receiving party from a third party without a breach of
such third party’s obligations of confidentiality; (v) is independently developed by the receiving party without use of or reference
to the disclosing party’s Confidential Information, as shown by documents and other competent evidence in the receiving party’s
possession; or (vi) is required by law to be disclosed by the receiving party, provided that the receiving party gives the disclosing
party prompt written notice of such requirement prior to such disclosure and assistance in obtaining an order protecting the information
from public disclosure.

 

“Current Report” shall
have the meaning set forth in Section 6.4.

 

“Custodian”
means any receiver, trustee, assignee, liquidator or similar official under any Bankruptcy Law.

 

“Damages”
shall mean any loss, claim, damage, liability, cost and expense (including, without limitation, reasonable attorneys’ fees and disbursements
and costs and expenses of expert witnesses and investigation).

 

“Dispute Period” shall have the meaning
specified in Section 9.3(a).

 

“Disqualification Event” shall have the
meaning specified in Section 4.27.

 

“DTC” shall mean
The Depository Trust Company, or any successor performing substantially the same function for the Company.

 

“DTC/FAST Program” shall mean the DTC’s
Fast Automated Securities Transfer Program.

 

“DWAC” shall mean Deposit Withdrawal at
Custodian as defined by the DTC.

 

 

 

 

 

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“DWAC
Eligible” shall mean that (a) the Common Stock is eligible at DTC for full services pursuant to DTC’s operational arrangements,
including, without limitation, transfer through DTC’s DWAC system, (b) the Company has been approved (without revocation) by the
DTC’s underwriting department, (c) the Transfer Agent is approved as an agent in the DTC/FAST Program, (d) the Commitment Shares
or Put Shares, as applicable, are otherwise eligible for delivery via DWAC, and (e) the Transfer Agent does not have a policy prohibiting
or limiting delivery of the Put Shares or Commitment Shares, as applicable, via DWAC.

 

“DWAC
Shares” means shares of Common Stock that are (i) issued in electronic form, (ii) freely tradable and transferable and without
restriction on resale and (iii) timely credited by the Company to the Investor’s or its designee’s specified DWAC account
with DTC under the DTC/FAST Program, or any similar program hereafter adopted by DTC performing substantially the same function.

 

“Environmental Laws” shall have the meaning
set forth in Section 4.14.

 

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

 

“Execution Date”
shall have the meaning set forth in the preamble to this Agreement.

 

“FINRA” shall mean the Financial Industry
Regulatory Authority, Inc.

 

“Indemnified Party” shall have the meaning
specified in Section 9.2.

 

“Indemnifying Party” shall have the meaning
specified in Section 9.2.

 

“Indemnity Notice” shall have the meaning
specified in Section 9.3(b).

 

“Intellectual
Property” shall mean all trademarks, trademark applications, trade names, service marks, service mark registrations, service
names, patents, patent applications, patent rights, copyrights, inventions, licenses, approvals, government authorizations, trade secrets
or other intellectual property rights.

 

“Investment
Amount” shall mean the dollar value equal to the amount of Put Shares referenced in the Put Notice multiplied by the Purchase
Price minus the Clearing Costs.

 

“Investor” shall have the meaning specified
in the preamble to this Agreement.

 

“Issuer Covered Person” shall have the
meaning specified in Section 4.27.

 

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

 

“Market
Price” shall mean the one (1) lowest traded price of the Common Stock on the Principal Market for any Trading Day during the
Valuation Period, as reported by Bloomberg Finance L.P. or other reputable source.

 

 

 

 

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“Material
Adverse Effect” shall mean any effect on the business, operations, properties, or financial condition of the Company and/or
the Subsidiaries that is material and adverse to the Company and/or the Subsidiaries and/or any condition, circumstance, or situation
that would prohibit or otherwise materially interfere with (excluding however, any effect resulting from general economic trends or conditions,
epidemics, wars other force majeure events applicable to the industry or country as a whole) the ability of the Company and/or the Subsidiaries
to enter into and/or perform its obligations under any Transaction Document.

 

“Maximum Commitment Amount” shall mean
Twenty Million Dollars ($20,000,000.00).

 

“Maximum
Put Amount” shall mean that the lesser of (i) such amount that equals two hundred percent (200%) of the Average Daily Trading
Volume, and (ii) Five Hundred Thousand Dollars ($500,000.00).

 

“Person”
shall mean an individual, a corporation, a partnership, an association, a trust or other entity or organization, including a government
or political subdivision or an agency or instrumentality thereof.

 

“Principal
Market” shall mean any of the national exchanges (i.e. NYSE, NYSE AMEX, NASDAQ), or principal quotation systems (i.e. OTCQX,
OTCQB, OTC Pink, the OTC Bulletin Board), or other principal exchange or recognized quotation system which is at the time the principal
trading platform or market for the Common Stock.

 

“Purchase
Price” shall mean 88% of the Market Price on such date on which the Purchase Price is calculated in accordance with the terms
and conditions of this Agreement.

 

“Put”
shall mean the right of the Company to require the Investor to purchase shares of Common Stock, subject to the terms and conditions of
this Agreement.

 

“Put
Date” shall mean any Trading Day during the Commitment Period that a Put Notice is deemed delivered pursuant to Section 2.2(b).

 

“Put
Notice” shall mean a written notice, substantially in the form of Exhibit A hereto, addressed to the Investor and setting
forth the amount of Put Shares which the Company intends to require the Investor to purchase pursuant to the terms of this Agreement.

 

“Put
Shares” shall mean all shares of Common Stock issued, or that the Company shall be entitled to issue, per any applicable Put
Notice in accordance with the terms and conditions of this Agreement.

 

“Registration Rights Agreement” means that
agreement in the form attached hereto as Exhibit D.

 

“Registration Statement” shall have the
meaning specified in Section 6.4.

 

“Regulation D” shall mean Regulation D
promulgated under the Securities Act.

 

“Required Minimum”
shall mean, as of any date, the maximum aggregate number of shares of Common Stock then issued or potentially issuable in the future pursuant
to the Transaction Documents.

 

“Rule 144” shall
mean Rule 144 promulgated under the Securities Act or any similar provision then in force under the Securities Act.

 

“SEC” shall mean the United States Securities
and Exchange Commission.

 

 

 

 

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“SEC Documents” shall have the meaning
specified in Section 4.5.

 

“Securities” means, collectively, the Put
Shares and the Commitment Shares.

 

“Securities Act” shall mean the Securities
Act of 1933, as amended.

 

“Short
Sales” shall mean all “short sales” as defined in Rule 200 of Regulation SHO under the Exchange Act.

 

“Subsidiary”
or “Subsidiaries” means any Person the Company wholly-owns or controls, or in which the Company, directly or indirectly,
owns a majority of the voting stock or similar voting interest, in each case that would be disclosable pursuant to Item 601(b)(21) of
Regulation S-K promulgated under the Securities Act.

 

“Third Party Claim” shall have the meaning
specified in Section 9.3(a).

 

“Trading Day” shall mean a day on which
the Principal Market shall be open for business.

 

“Transaction
Documents” shall mean this Agreement, the Registration Rights Agreement and all schedules and exhibits hereto and thereto.

 

“Transfer
Agent” shall mean Pacific Stock Transfer, the current transfer agent of the Company, and any successor transfer agent of the
Company.

 

“Valuation
Period” shall mean the period of five (5) consecutive Trading Days immediately following the Clearing Date associated with the
applicable Put Notice during which the Purchase Price of the Common Stock is valued, provided, however, that the Valuation Period shall
instead begin on the Clearing Date if the respective Put Shares are received as DWAC Shares in Investor’s brokerage account prior
to 11:00 a.m. EST on the respective Clearing Date.

 

 

 

 

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ARTICLE II

PURCHASE AND SALE OF COMMON STOCK

 

Section 2.1
PUTS. Upon the terms and conditions set forth herein (including, without limitation, the provisions of Article VII), the
Company shall have the right, but not the obligation, to direct the Investor, by its delivery to the Investor of a Put Notice from time
to time during the Commitment Period, to purchase Put Shares, provided that notwithstanding any other terms of this Agreement, in each
instance, (i) the Investment Amount is not more than the Maximum Put Amount and (ii) the aggregate Investment Amount of all Puts shall
not exceed the Maximum Commitment Amount.

 

Section 2.2 MECHANICS.

 

(a)           
PUT NOTICE. At any time and from time to time during the Commitment Period, except as provided in this Agreement, the Company
may deliver a Put Notice to Investor, subject to satisfaction of the conditions set forth in Section 7.2 and otherwise provided
herein. The Company shall deliver, or cause to be delivered, the Put Shares as DWAC Shares to the Investor within two (2) Trading Days
following the Put Date.

 

(b)            DATE OF DELIVERY OF PUT NOTICE. A Put Notice shall be deemed delivered on (i) the Trading Day it is received by e-mail by
the Investor if such notice is received on or prior to 8:30 a.m. EST or (ii) the immediately succeeding Trading Day if it is received
by e-mail after 8:30 a.m. EST on a Trading Day or at any time on a day which is not a Trading Day. The Company shall not deliver another
Put Notice to the Investor within ten (10) Trading Days of a prior Put Notice.

 

Section
2.3 CLOSINGS.

 

(a)            TIMING. The Closing of a Put shall occur within one (1) Trading Day following the end of the respective Valuation Period,
whereby the Investor shall deliver the Investment Amount by wire transfer of immediately available funds to an account designated by the
Company. In addition, on or prior to such Closing, each of the Company and the Investor shall deliver to each other all documents, instruments
and writings required to be delivered or reasonably requested by either of them pursuant to this Agreement in order to implement and effect
the transactions contemplated herein.

 

(b)            RETURN
OF SURPLUS. If the value of the Put Shares delivered to the Investor causes the Company to exceed the Maximum Commitment Amount,
then the Investor shall return to the Company the surplus amount of Put Shares associated with such Put and the Purchase Price with respect
to such Put shall be reduced by any Clearing Costs related to the return of such Put Shares.

 

(c)            RESALES
DURING VALUATION PERIOD. The parties acknowledge and agree that during the Valuation Period, the Investor may contract for, or otherwise
effect, the resale of the subject purchased Put Shares to third-parties.

 

 

 

 

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ARTICLE III

REPRESENTATIONS AND WARRANTIES
OF INVESTOR

 

The Investor represents and warrants to the Company that:

 

Section 3.1
INTENT. The Investor is entering into this Agreement for its own account, and the Investor has no present arrangement (whether
or not legally binding) at any time to sell the Securities to or through any Person in violation of the Securities Act or any applicable
state securities laws; provided, however, that the Investor reserves the right to dispose of the Securities at any time
in accordance with federal and state securities laws applicable to such disposition.

 

Section 3.2 NO
LEGAL ADVICE FROM THE COMPANY. The Investor acknowledges that it has had the opportunity to review this Agreement and the transactions
contemplated by this Agreement with its own legal counsel and investment and tax advisors. Except with respect to the representations,
warranties and covenants contained in this Agreement, the Investor is relying solely on such counsel and advisors and not on any statements
or representations of the Company or any of its representatives or agents for legal, tax or investment advice with respect to this investment,
the transactions contemplated by this Agreement or the securities laws of any jurisdiction.

 

Section 3.3 ACCREDITED
INVESTOR. The Investor is an accredited investor as defined in Rule 501(a)(3) of Regulation D, and the Investor has such experience
in business and financial matters that it is capable of evaluating the merits and risks of an investment in the Securities. The Investor
acknowledges that an investment in the Securities is speculative and involves a high degree of risk.

 

Section 3.4
AUTHORITY. The Investor has the requisite power and authority to enter into and perform its obligations under this Agreement and
the other Transaction Documents and to consummate the transactions contemplated hereby and thereby. The execution and delivery of this
Agreement and the other Transaction Documents and the consummation by it of the transactions contemplated hereby and thereby have been
duly authorized by all necessary action and no further consent or authorization of the Investor is required. Each Transaction Document
to which it is a party has been duly executed by the Investor, and when delivered by the Investor in accordance with the terms hereof,
will constitute the valid and binding obligation of the Investor enforceable against it in accordance with its terms, subject to applicable
bankruptcy, insolvency, or similar laws relating to, or affecting generally the enforcement of, creditors’ rights and remedies or
by other equitable principles of general application.

 

Section 3.5
NOT AN AFFILIATE. To the Investor’s knowledge, the Investor is not an officer, director or “affiliate” (as such
term is defined in Rule 405 of the Securities Act) of the Company.

 

Section 3.6
ORGANIZATION AND STANDING. The Investor is an entity duly formed, validly existing and in good standing under the laws of the jurisdiction
of its formation with full right, limited liability company power and authority to enter into and to consummate the transactions contemplated
by this Agreement and the other Transaction Documents.

 

 

 

 

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Section 3.7
ABSENCE OF CONFLICTS. The execution and delivery of this Agreement and the other Transaction Documents, and the consummation of
the transactions contemplated hereby and thereby and compliance with the requirements hereof and thereof, will not (a) violate any law,
rule, regulation, order, writ, judgment, injunction, decree or award binding on the Investor, or any of its organizational or charter
documents(b) violate any provision of any indenture, instrument or agreement to which the Investor is a party or is subject, or by which
the Investor or any of its assets is bound, or conflict with or constitute a material default (or an event that with notice or lapse of
time or both would become material default) thereunder, (c) result in the creation or imposition of any lien pursuant to the terms of
any such indenture, instrument or agreement, or constitute a breach of any fiduciary duty owed by the Investor to any third party, or
(d) require the approval of any third-party (that has not been obtained) pursuant to any material contract, instrument, agreement, relationship
or legal obligation to which the Investor is subject or to which any of its assets, operations or management may be subject.

 

Section 3.8
DISCLOSURE; ACCESS TO INFORMATION. The Investor had an opportunity to review copies of the SEC Documents filed on behalf of the
Company and has had access to all publicly available information with respect to the Company; provided, however, that the Investor makes
no representation or warranty hereunder with respect to any SEC Document and is relying on the representations and warranties of the Company
in Article IV with respect to the SEC Documents.

 

Section 3.9
MANNER OF SALE. At no time was the Investor presented with or solicited by or through any leaflet, public promotional meeting,
television advertisement or any other form of general solicitation or advertisement regarding the Securities.

 

ARTICLE IV

REPRESENTATIONS AND WARRANTIES
OF THE COMPANY

 

The Company represents
and warrants to the Investor that, except as set forth in the disclosure schedules hereto that as of the Execution Date and at each Closing
Date:

 

Section 4.1 ORGANIZATION OF THE
COMPANY. The Company is a corporation duly incorporated, validly existing and in good standing under the laws of the state of Delaware,
with the requisite power and authority to own and use its properties and assets and to carry on its business as currently conducted. Each
of the Subsidiaries is an entity duly incorporated or otherwise organized, validly existing and in good standing under the laws of the
jurisdiction of its incorporation or organization, with the requisite power and authority to own and use its properties and assets and
to carry on its business as currently conducted. Each of the Company and the Subsidiaries is not in violation or default of any of the
provisions of its respective certificate or articles of incorporation, bylaws or other organizational or charter documents. Each of the
Company and the Subsidiaries is duly qualified to conduct business and is in good standing as a foreign corporation or other entity in
each jurisdiction in which the nature of the business conducted or property owned by it makes such qualification necessary, except where
the failure to be so qualified or in good standing, as the case may be, could not have or reasonably be expected to result in a Material
Adverse Effect and no proceeding has been instituted in any such jurisdiction revoking, limiting or curtailing or seeking to revoke, limit
or curtail such power and authority or qualification.

 

Section 4.2 AUTHORITY.
The Company has the requisite corporate power and authority to enter into and perform its obligations under this Agreement and the other
Transaction Documents. The execution and delivery of this Agreement and the other Transaction Documents by the Company and the consummation
by it of the transactions contemplated hereby and thereby have been duly authorized by all necessary corporate action and no further consent
or authorization of the Company or its Board of Directors or stockholders is required. Each of this Agreement and the other Transaction
Documents has been duly executed and delivered by the Company and constitutes a 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, or
similar laws relating to, or affecting generally the enforcement of, creditors’ rights and remedies or by other equitable principles.

 

 

 

 

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Section 4.3
CAPITALIZATION. As of the Execution Date, the authorized capital stock of the Company consists of (a) 6,000,000,000 shares of Common
Stock, par value of $0.001 per share, of which 4,807,802,061 shares of Common Stock are issued and outstanding and (b) 85,000,000 shares
of preferred stock, 10,000,000 of which are designated Series A Preferred Stock, all of which are issued and outstanding, 10,000,000 of
which are designated Series B Preferred Stock, none of which are issued and outstanding, and 50,000,000 of which are designated Series
C Preferred stock, 30,000,000 of which are issued and outstanding. Except as set forth on Section 4.3 or otherwise disclosed in
the SEC Documents, the Company has not issued any capital stock since its most recently filed periodic report under the Exchange Act,
other than pursuant to the exercise of employee stock options under the Company’s stock option plans, the issuance of shares of
Common Stock to employees pursuant to the Company’s employee stock purchase plans and pursuant to the conversion and/or exercise
of Common Stock Equivalents outstanding as of the date of the most recently filed periodic report under the Exchange Act. No Person has
any right of first refusal, preemptive right, right of participation, or any similar right to participate in the transactions contemplated
by the Transaction Documents. Except as set forth on Section 4.3, or as otherwise disclosed in the SEC documents and except as
a result of the purchase and sale of the Securities, (i). There are no outstanding options, warrants, scrip rights to subscribe to, calls
or commitments of any character whatsoever relating to, or securities, rights or obligations convertible into or exercisable or exchangeable
for, or giving any Person any right to subscribe for or acquire any shares of Common Stock, or contracts, commitments, understandings
or arrangements by which the Company or any Subsidiary is or may become bound to issue additional shares of Common Stock or Common Stock
Equivalents; (ii). The issuance and sale of the Securities will not obligate the Company to issue shares of Common Stock or other securities
to any Person (other than the Investor) and will not result in a right of any holder of Company securities to adjust the exercise, conversion,
exchange or reset price under any of such securities; and (iii). There are no stockholders agreements, voting agreements or other similar
agreements with respect to the Company’s capital stock to which the Company is a party or, to the knowledge of the Company, between
or among any of the Company’s stockholders.

 

Section 4.4
LISTING AND MAINTENANCE REQUIREMENTS. The Common Stock is registered pursuant to Section 12(b) or 12(g) of the Exchange Act, and
the Company has taken no action designed to, or which to its knowledge is likely to have the effect of, terminating the registration of
the Common Stock under the Exchange Act, nor has the Company received any notification that the SEC is contemplating terminating such
registration. The Company has not, in the twelve (12) months preceding the Execution Date, received notice from the Principal Market on
which the Common Stock is or has been listed or quoted to the effect that the Company is not in compliance with the listing or maintenance
requirements of such Principal Market. The Company is, and has no reason to believe that it will not in the foreseeable future continue
to be, in compliance with all such listing and maintenance requirements.

 

 

 

 

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Section 4.5
SEC DOCUMENTS; DISCLOSURE. Except as set forth on Section 4.5, the Company has filed all reports, schedules, forms, statements
and other documents required to be filed by the Company under the Securities Act and the Exchange Act, including pursuant to Section 13(a)
or 15(d) thereof, for the one (1) year preceding the Execution Date (or such shorter period as the Company was required by law or regulation
to file such material) (the foregoing materials, including the exhibits thereto and documents incorporated by reference therein, being
collectively referred to herein as the “SEC Documents”). As of their respective dates, the SEC Documents complied in
all material respects with the requirements of the Securities Act and the Exchange Act, as applicable, and other federal laws, rules and
regulations applicable to such SEC Documents, and none of the SEC Documents when filed contained any untrue statement of a material fact
or omitted to state a material fact required to be stated therein or necessary in order to make the statements therein, in light of the
circumstances under which they were made, not misleading. The financial statements of the Company included in the SEC Documents comply
as to form and substance in all material respects with applicable accounting requirements and the published rules and regulations of the
SEC or other applicable rules and regulations with respect thereto. Such financial statements have been prepared in accordance with generally
accepted accounting principles applied on a consistent basis during the periods involved (except (a) as may be otherwise indicated in
such financial statements or the notes thereto or (b) in the case of unaudited interim statements, to the extent they may not include
footnotes or may be condensed or summary statements) and fairly present in all material respects the financial position of the Company
as of the dates thereof and the results of operations and cash flows for the periods then ended (subject, in the case of unaudited statements,
to normal, immaterial, year-end audit adjustments). There is no transaction, arrangement, or other relationship between the Company and
an unconsolidated or other off balance sheet entity that is not disclosed by the Company in its financial statements or otherwise that
would be reasonably likely to have a Material Adverse Effect. Except with respect to the material terms and conditions of the transactions
contemplated by the Transaction Documents, the Company confirms that neither it nor any other Person acting on its behalf has provided
the Investor or its agents or counsel with any information that it believes constitutes or might constitute material, non-public information.
The Company understands and confirms that the Investor will rely on the foregoing representation in effecting transactions in securities
of the Company.

 

Section 4.6 VALID
ISSUANCES. The Securities are duly authorized and, when issued and paid for in accordance with the applicable Transaction Documents,
will be validly issued, fully paid, and non- assessable, free and clear of all Liens imposed by the Company, other than restrictions on
transfer provided for in the Transaction Documents and under the Securities Act and other federal and state securities laws.

 

Section 4.7
NO CONFLICTS. The execution, delivery and performance of this Agreement and the other Transaction Documents by the Company, and
the consummation by the Company of the transactions contemplated hereby and thereby, including, without limitation, the issuance of the
Put Shares and the Commitment Shares, do not and will not: (a) result in a violation of the Company’s or any Subsidiary’s
certificate or articles of incorporation, by-laws or other organizational or charter documents, (b) conflict with, or constitute a material
default (or an event that with notice or lapse of time or both would become a material default) under, result in the creation of any Lien
upon any of the properties or assets of the Company or any Subsidiary, or give to others any rights of termination, amendment, acceleration
or cancellation of, any agreement, indenture, instrument or any “lock-up” or similar provision of any underwriting or similar
agreement to which the Company or any Subsidiary is a party, or (c) result in a violation of any federal, state or local law, rule, regulation,
order, judgment or decree (including federal and state securities laws and regulations) applicable to the Company or any Subsidiary or
by which any property or asset of the Company or any Subsidiary 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),
nor is the Company otherwise in violation of, conflict with or in default under any of the foregoing. The business of the Company is not
being conducted in violation of any law, ordinance or regulation of any governmental entity, except for possible violations that either
singly or in the aggregate do not and will not have a Material Adverse Effect. The Company is not required under federal, state or local
law, rule or regulation to obtain any consent, authorization or order of, or make any filing or registration with, any court or governmental
agency in order for it to execute, deliver or perform any of its obligations under this Agreement or the other Transaction Documents (other
than any SEC, FINRA or state securities filings that may be required to be made by the Company in connection with the issuance of the
Commitment Shares or subsequent to any Closing or any registration statement that may be filed pursuant hereto); provided that, for purposes
of the representation made in this sentence, the Company is assuming and relying upon the accuracy of the relevant representations and
agreements of Investor herein.

 

 

 

 

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Section 4.8 NO
MATERIAL ADVERSE CHANGE. No event has occurred that would have a Material Adverse Effect on the Company or any Subsidiary that has
not been disclosed in subsequent SEC filings.

 

Section 4.9 LITIGATION
AND OTHER PROCEEDINGS. Except as set forth on Section 4.9, there are no actions, suits, investigations, inquiries or proceedings
pending or, to the knowledge of the Company, threatened against or affecting the Company, any Subsidiary or any of their respective properties,
nor has the Company received any written or oral notice of any such action, suit, proceeding, inquiry or investigation, which would have
a Material Adverse Effect or would require disclosure under the Securities Act or the Exchange Act. No judgment, order, writ, injunction
or decree or award has been issued by or, to the knowledge of the Company, requested of any court, arbitrator or governmental agency which
would have a Material Adverse Effect. There has not been, and to the knowledge of the Company, there is not pending or contemplated, any
investigation by the SEC involving the Company, any Subsidiary, or any current or former director or officer of the Company or any Subsidiary
or in the SEC documents.

 

Section 4.10
REGISTRATION RIGHTS. Except as set forth on Section 4.10 or in the SEC documents, no Person (other than the Investor) has
any right to cause the Company to effect the registration under the Securities Act of any securities of the Company or any Subsidiary.

 

Section 4.11
INVESTOR’S STATUS. The Company acknowledges and agrees that the Investor is acting solely in the capacity of arm’s
length purchaser with respect to the Transaction Documents and the transactions contemplated hereby and thereby. The Company further acknowledges
that the Investor is not acting as a financial advisor or fiduciary of the Company (or in any similar capacity) with respect to the Transaction
Documents and the transactions contemplated hereby and thereby and any advice given by the Investor or any of its representatives or agents
in connection with the Transaction Documents and the transactions contemplated hereby and thereby is merely incidental to the Investor’s
purchase of the Securities. The Company further represents to the Investor that the Company’s decision to enter into the Transaction
Documents has been based solely on the independent evaluation by the Company and its representatives and advisors.

 

Section 4.12
NO GENERAL SOLICITATION; NO INTEGRATED OFFERING. Neither the Company, any Subsidiary, nor any of their respective affiliates, nor
any Person acting on their behalf, has engaged in any form of general solicitation or general advertising (within the meaning of Regulation
D under the Securities Act) in connection with the offer or sale of the Securities. Neither the Company, any Subsidiary, nor any of their
respective affiliates, nor any Person acting on their behalf has, directly or indirectly, made any offers or sales of any security or
solicited any offers to buy any security, under circumstances that would require registration of the offer and sale of any of the Securities
under the Securities Act, whether through integration with prior offerings or otherwise, or cause this offering of the Securities to be
integrated with prior offerings by the Company in a manner that would require stockholder approval pursuant to the rules of the Principal
Market on which any of the securities of the Company are listed or designated. The issuance and sale of the Securities hereunder does
not contravene the rules and regulations of the Principal Market.

 

Section 4.13
INTELLECTUAL PROPERTY RIGHTS. The Company and each Subsidiary own or possess adequate rights or licenses to use all material trademarks,
trade names, service marks, service mark registrations, service names, patents, patent rights, copyrights, inventions, licenses, approvals,
governmental authorizations, trade secrets and rights necessary to conduct their respective businesses as now conducted. None of the Company’s,
nor any Subsidiary’s material Intellectual Property has expired or terminated, or, by the terms and conditions thereof, could expire
or terminate within six months from the date of this Agreement. The Company does not have any knowledge of any infringement by the Company
and/or any Subsidiary of any material Intellectual Property of others, or of any such development of similar or identical trade secrets
or technical information by others, and there is no claim, action or proceeding being made or brought against, or to the Company’s
knowledge, being threatened against, the Company and/or any Subsidiary regarding the infringement of any Intellectual Property, which
could reasonably be expected to have a Material Adverse Effect.

 

 

 

 

    	 	11	 

     

    

 

Section 4.14
ENVIRONMENTAL LAWS. To the Company’s knowledge, the Company and each Subsidiary (i) is in compliance with any and all applicable
foreign, federal, state and local laws and regulations relating to the protection of human health and safety, the environment or hazardous
or toxic substances or wastes, pollutants or contaminants (“Environmental Laws”), (ii) has received all permits, licenses
or other approvals required of it under applicable Environmental Laws to conduct its respective businesses and (iii) is in compliance
with all terms and conditions of any such permit, license or approval, except where, in each of the three foregoing clauses, the failure
to so comply could not reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect.

 

Section 4.15
TITLE. Except as disclosed in the SEC Documents, the Company and each Subsidiary has good and marketable title in fee simple to
all real property owned by it and good and marketable title in all personal property owned by it that is material to the business of the
Company and each Subsidiary, in each case free and clear of all Liens and, except for Liens as do not materially affect the value of such
property and do not materially interfere with the use made and proposed to be made of such property by the Company or any Subsidiary and
Liens for the payment of federal, state or other taxes, the payment of which is neither delinquent nor subject to penalties. Any real
property and facilities held under lease by the Company or any Subsidiary is held under valid, subsisting and enforceable leases with
which the Company is in compliance with such exceptions as are not material and do not interfere with the use made and proposed to be
made of such property and buildings by the Company or any Subsidiary.

 

Section 4.16 INSURANCE. The Company and each Subsidiary
is insured by insurers of recognized financial responsibility against such losses and risks and in such amounts as management of the
Company believes to be prudent and customary in the businesses in which the Company and each Subsidiary is engaged. The Company has no
reason to believe that it or any Subsidiary will not be able to renew its existing insurance coverage as and when such coverage expires
or to obtain similar coverage from similar insurers as may be necessary to continue its business at a cost that would not materially
and adversely affect the condition, financial or otherwise, or the earnings, business or operations of the Company, taken as a whole.

 

Section 4.17
REGULATORY PERMITS. The Company and each Subsidiary possesses all material certificates, authorizations and permits issued by the
appropriate federal, state or foreign regulatory authorities necessary to conduct its businesses, and neither the Company, nor any Subsidiary
has received any notice of proceedings relating to the revocation or modification of any such certificate, authorization or permit.

 

Section 4.18
TAX STATUS. The Company and each Subsidiary has made or filed all federal and state income and all other material tax returns,
reports and declarations required by any jurisdiction to which it is subject (unless and only to the extent that the Company has set aside
on its books provisions reasonably adequate for the payment of all unpaid and unreported taxes) and has paid all taxes and other governmental
assessments and charges that are material in amount, shown or determined to be due on such returns, reports and declarations, except those
being contested in good faith and has set aside on its books provision reasonably adequate for the payment of all taxes for periods subsequent
to the periods to which such returns, reports or declarations apply. There are no unpaid taxes in any material amount claimed to be due
by the taxing authority of any jurisdiction, and the officers of the Company know of no basis for any such claim.

 

Section 4.19
TRANSACTIONS WITH AFFILIATES. Except as set forth in the SEC Documents, none of the officers or directors of the Company or any
Subsidiary, is presently a party to any transaction with the Company or any Subsidiary (other than for services as employees, consultants,
officers and directors), including any contract, agreement or other arrangement providing for the furnishing of services to or by, providing
for rental of real or personal property to or from, or otherwise requiring payments to or from any officer, director or such employee
or, to the knowledge of the Company, any entity in which any officer, director, or any such employee has a substantial interest or is
an officer, director, trustee or partner, in each case in excess of the lesser of (i) $120,000 or (ii) one percent of the average of the
Company’s total assets at year end for the last two completed fiscal years, other than for (i) payment of salary or consulting fees
for services rendered, (ii) reimbursement for expenses incurred on behalf of the Company or any Subsidiary and (iii) other employee benefits,
including stock option agreements under any stock option plan of the Company.

 

 

 

 

    	 	12	 

     

    

 

Section 4.20
FOREIGN CORRUPT PRACTICES. Neither the Company, any Subsidiary, nor to the knowledge of the Company, any agent or other Person
acting on behalf of the Company or any Subsidiary, has (i) directly or indirectly, used any funds for unlawful contributions, gifts, entertainment
or other unlawful expenses related to foreign or domestic political activity, (ii) made any unlawful payment to foreign or domestic government
officials or employees or to any foreign or domestic political parties or campaigns from corporate funds, (iii) failed to disclose fully
any contribution made by the Company or any Subsidiary (or made by any Person acting on its behalf of which the Company is aware) which
is in violation of law, or (iv) violated in any material respect any provision of the Foreign Corrupt Practices Act of 1977, as amended.

 

Section 4.21
SARBANES-OXLEY. The Company is in compliance with all provisions of the Sarbanes-Oxley Act of 2002, as amended, which are applicable
to it.

 

Section 4.22
CERTAIN FEES. No brokerage or finder’s fees or commissions are or will be payable by the Company to any broker, financial
advisor or consultant, finder, placement agent, investment banker, bank or other Person with respect to the transactions contemplated
by the Transaction Documents. The Investor shall have no obligation with respect to any fees or with respect to any claims made by or
on behalf of other Persons for fees of a type contemplated in this Section 4.22 that may be due in connection with the transactions
contemplated by the Transaction Documents.

 

Section 4.23
INVESTMENT COMPANY. The Company is not an “investment company” within the meaning of the Investment Company Act of
1940, as amended.

 

Section 4.24
ACCOUNTANTS. The Company’s independent auditors are set forth in the SEC Documents and, to the knowledge of the Company,
such accountants are an independent registered public accounting firm as required by the Securities Act.

 

Section 4.25
NO MARKET MANIPULATION. Neither the Company, nor any Subsidiary has, and to its knowledge no Person acting on either of their behalf
has, (i) taken, directly or indirectly, any action designed to cause or to result in the stabilization or manipulation of the price of
any security of the Company to facilitate the sale or resale of any of the Securities, (ii) sold, bid for, purchased, or, paid any compensation
for soliciting purchases of, any of the Securities, or (iii) paid or agreed to pay to any Person any compensation for soliciting another
to purchase any other securities of the Company.

 

Section 4.26
NO DISQUALIFICATION EVENTS. None of the Company, any Subsidiary, any affiliated issuer, any director, executive officer, other
officer of the Company or any Subsidiary participating in the offering contemplated hereby, any beneficial owner of 20% or more of the
Company’s outstanding voting equity securities, calculated on the basis of voting power, nor any promoter (as that term is defined
in Rule 405 under the Securities Act) connected with the Company in any capacity at the time of sale (each, an “Issuer Covered
Person”) is subject to any of the “Bad Actor” disqualifications described in Rule 506(d)(1)(i) to (viii) under the
Securities Act (a “Disqualification Event”), except for a Disqualification Event covered by Rule 506(d)(2) or (d)(3)
under the Securities Act.

 

Section 4.27
MONEY LAUNDERING. The Company and each Subsidiary is in compliance with, and has not previously violated, the USA PATRIOT ACT of
2001 and all other applicable U.S. and non-U.S. anti-money laundering laws and regulations, including, but not limited to, the laws, regulations
and Executive Orders and sanctions programs administered by the U.S. Office of Foreign Assets Control, including, but not limited, to
(i) Executive Order 13224 of September 23, 2001 entitled, “Blocking Property and Prohibiting Transactions With Persons Who Commit,
Threaten to Commit, or Support Terrorism” (66 Fed. Reg. 49079 (2001)); and (ii) any regulations contained in 31 CFR, Subtitle B,
Chapter V.

 

 

 

    	 	13	 

     

    

 

Section 4.28 ILLEGAL OR UNAUTHORIZED
PAYMENTS; POLITICAL CONTRIBUTIONS. Neither the Company, nor any Subsidiary has, nor, to the best of the Company’s knowledge
(after reasonable inquiry of its officers and directors), any of the officers, directors, employees, agents or other representatives of
the Company, any Subsidiary or any other business entity or enterprise with which the Company is or has been affiliated, has, directly
or indirectly, made or authorized any payment, contribution or gift of money, property, or services, in contravention of applicable law,
(a) as a kickback or bribe to any Person or (b) to any political organization, or the holder of or any aspirant to any elective or appointive
public office except on behalf of the Company.

 

Section 4.29
SHELL COMPANY STATUS. The Company is not currently an issuer identified in Rule 144(i)(1)(i) under the Securities Act, is subject
to the reporting requirements of Section 13 or 15(d) of the Exchange Act, has filed all reports and other materials required to be filed
by Section 13 or 15(d) of the Exchange Act, as applicable during the preceding 12 months (or such shorter period as the Company was required
by law or regulation to file such material), and has filed current “Form 10 information” with the SEC (as defined in Rule
144(i)(3) of the Securities Act) reflecting its status as an entity that is no longer an issuer described in Rule 144(i)(1)(i) of the
Securities Act.

 

Section 4.30
ABSENCE OF SCHEDULES. In the event that on the Execution Date, the Company does not deliver any disclosure schedule contemplated
by this Agreement, the Company hereby acknowledges and agrees that (i) each such undelivered disclosure schedule shall be deemed to read
as follows: “Nothing to Disclose”, and (ii) the Investor has not otherwise waived delivery of such disclosure schedule.

 

ARTICLE
V

COVENANTS OF INVESTOR

 

Section 5.1 COMPLIANCE WITH LAW;
TRADING IN SECURITIES. The Investor’s trading activities with respect to shares of Common Stock will be in compliance with all
applicable state and federal securities laws and regulations and the rules and regulations of FINRA and the Principal Market.

 

Section 5.2 SHORT
SALES AND CONFIDENTIALITY. Neither the Investor, nor any affiliate of the Investor acting on its behalf or pursuant to any understanding
with it, will execute any Short Sales during the period from the Execution Date to the end of the Commitment Period. For the purposes
hereof, and in accordance with Regulation SHO, the sale after delivery of a Put Notice of such number of shares of Common Stock reasonably
expected to be purchased under a Put Notice shall not be deemed a Short Sale. The Investor shall, until such time as the transactions
contemplated by this Agreement are publicly disclosed by the Company in accordance with the terms of this Agreement, maintain the confidentiality
of the existence and terms of this transaction and the information included in the Transaction Documents. The Investor agrees not to disclose
any Confidential Information of the Company to any third party, except for attorneys, accountants, advisors who have a need to know such
Confidential Information and are bound by confidentiality, and shall not use any Confidential Information for any purpose other than in
connection with, or in furtherance of, the transactions contemplated hereby. The Investor acknowledges that the Confidential Information
of the Company shall remain the property of the Company and agrees that it shall take all reasonable measures to protect the secrecy of
any Confidential Information disclosed by the Company.

 

 

 

 

 

    	 	14	 

     

    

 

ARTICLE
VI

COVENANTS OF THE COMPANY

 

Section 6.1 REMOVED AND RESERVED.

 

Section 6.2
LISTING OF COMMON STOCK. The Company shall promptly secure the listing of all of the Put Shares and Commitment Shares to be issued
to the Investor hereunder on the Principal Market (subject to official notice of issuance) and shall use commercially reasonable best
efforts to maintain, so long as any shares of Common Stock shall be so listed, the listing of all such Put Shares and Commitment Shares
from time to time issued hereunder. The Company shall use its commercially reasonable efforts to continue the listing and trading of the
Common Stock on the Principal Market (including, without limitation, maintaining sufficient net tangible assets) and will comply in all
respects with the Company’s reporting, filing and other obligations under the bylaws or rules of FINRA and the Principal Market.
The Company shall not take any action that would reasonably be expected to result in the delisting or suspension of the Common Stock on
the Principal Market. The Company shall promptly, and in no event later than the following Trading Day, provide to the Investor copies
of any notices it receives from any Person regarding the continued eligibility of the Common Stock for listing on the Principal Market.
The Company shall pay all fees and expenses in connection with satisfying its obligations under this Section 6.2). The Company
shall take all action necessary to ensure that its Common Stock can be transferred electronically as DWAC Shares.

 

Section 6.4 FILING OF CURRENT REPORT
AND REGISTRATION STATEMENT. The Company agrees that it shall file a Current Report on Form 8-K, including the Transaction Documents
as exhibits thereto, with the SEC within the time required by the Exchange Act, relating to the transactions contemplated by, and describing
the material terms and conditions of, the Transaction Documents (the “Current Report”). Unless waived in writing by
the Investor, the Company shall permit the Investor to review and comment upon the final pre-filing draft version of the Current Report
at least two (2) Trading Days prior to its filing with the SEC, and the Company shall give reasonable consideration to all such comments.
The Investor shall use its reasonable best efforts to comment upon the final pre-filing draft version of the Current Report within one
(1) Trading Day from the date the Investor receives it from the Company. Pursuant to the terms of the Registration Rights Agreement, the
Company shall also file with the SEC, a new registration statement on Form S-1 (the “Registration Statement”) covering
the resale of the Put Shares and Commitment Shares.

 

Section 6.5 ISSUANCE
OF COMMITMENT SHARES. In consideration for the Investor’s execution and delivery of, and performance under this Agreement, subject
to the regulatory approval of increase of authorized shares. The Company shall cause the Transfer Agent to issue the Commitment Shares
to the Investor within three business days after the Execution Date. For the avoidance of doubt, all of the Commitment Shares shall be
fully earned as of the Execution Date, and the issuance of the Commitment Shares is not contingent upon any other event or condition,
including, without limitation, the effectiveness of the Registration Statement or the Company’s submission of a Put Notice to the
Investor and irrespective of any termination of this Agreement.

 

 

 

 

    	 	15	 

     

    

 

Section 6.6
DUE DILIGENCE; CONFIDENTIALITY; NON-PUBLIC INFORMATION. The Investor shall have the right, from time to time as the Investor may
reasonably deem appropriate, to perform reasonable due diligence on the Company during normal business hours. The Company, each Subsidiary
and their respective officers and employees shall provide information and reasonably cooperate with the Investor in connection with any
reasonable request by the Investor related to the Investor’s due diligence of the Company. The Company agrees not to disclose any
Confidential Information of the Investor to any third party, except for attorneys, accountants, advisors who have a need to know such
Confidential Information and are bound by confidentiality, and shall not use any Confidential Information for any purpose other than in
connection with, or in furtherance of, the transactions contemplated hereby. The Company acknowledges that the Confidential Information
of the Investor shall remain the property of the Investor and agrees that it shall take all reasonable measures to protect the secrecy
of any Confidential Information disclosed by the Investor. The Company confirms that neither it nor any other Person acting on its behalf
shall provide the Investor or its agents or counsel with any information that constitutes or might constitute material, non-public information,
unless a simultaneous public announcement thereof is made by the Company in the manner contemplated by Regulation FD. In the event of
a breach of the foregoing covenant by the Company or any Person acting on its behalf (as determined in the reasonable good faith judgment
of the Investor), in addition to any other remedy provided herein or in the other Transaction Documents, the Investor shall have the right
to make a public disclosure, in the form of a press release, public advertisement or otherwise, of such material, non-public information
without the prior approval by the Company; provided the Investor shall have first provided notice to the Company that it believes it has
received information that constitutes material, non-public information, and the Company shall have had at least twenty-four (24) hours
to publicly disclose such material, non-public information prior to any such disclosure by the Investor, and the Company shall have failed
to publicly disclose such material, non-public information within such time period. The Investor shall not have any liability to the Company,
any Subsidiary, or any of their respective directors, officers, employees, stockholders, affiliates or agents, for any such disclosure.
The Company understands and confirms that the Investor shall be relying on the foregoing covenants in effecting transactions in securities
of the Company.

 

Section 6.7 PURCHASE
RECORDS. The Company shall maintain records showing the Available Amount at any given time and the date, Investment Amount and Put
Shares for each Put, contained in the applicable Put Notice.

 

Section 6.8 TAXES.
The Company shall pay any and all transfer, stamp or similar taxes that may be payable with respect to the issuance and delivery of any
shares of Common Stock to the Investor made under this Agreement.

 

Section 6.9
USE OF PROCEEDS. The Company will use the net proceeds from the offering of Put Shares hereunder in the manner described in the
Registration Statement or the SEC Documents.

 

Section 6.10 TRANSACTION
DOCUMENTS. On the Execution Date, the Company shall deliver to the Investor executed copies of all of the Transaction Documents.

 

 

 

 

    	 	16	 

     

    

 

 

ARTICLE VII

CONDITIONS TO DELIVERY OF PUT
NOTICES AND CONDITIONS TO CLOSING

 

Section 7.1 CONDITIONS PRECEDENT
TO THE RIGHT OF THE COMPANY TO ISSUE AND SELL PUT SHARES. The right of the Company to issue and sell the Put Shares to the Investor
is subject to the satisfaction of each of the conditions set forth below:

 

(a)             ACCURACY
OF INVESTOR’S REPRESENTATIONS AND WARRANTIES. The representations and warranties of the Investor shall be true and correct
in all material respects as of the Execution Date and as of the date of each Closing as though made at each such time.

 

(b)            PERFORMANCE BY INVESTOR. Investor shall have performed, satisfied and complied in all respects with all covenants, agreements
and conditions required by this Agreement to be performed, satisfied or complied with by the Investor at or prior to such Closing.

 

(c)             REGISTRATION STATEMENT. The Company shall not have the right to issue any Put Shares if the Registration Statement, and
any amendment or supplement thereto, shall fail to be and remain effective for the resale by the Investor of the Put Shares and Commitment
Shares.

 

Section 7.2CONDITIONS PRECEDENT
TO THE OBLIGATION OF INVESTOR TO PURCHASE PUT SHARES. The obligation of the Investor hereunder to purchase Put Shares is subject to
the satisfaction of each of the following conditions:

 

(a)             REGISTRATION
STATEMENT. The Registration Statement, and any amendment or supplement thereto, shall be and remain effective for the resale by the
Investor of the Put Shares and the Commitment Shares and (i) neither the Company nor the Investor shall have received notice that the
SEC has issued or intends to issue a stop order with respect to such Registration Statement or that the SEC otherwise has suspended or
withdrawn the effectiveness of such Registration Statement, either temporarily or permanently, or intends or has threatened to do so
and (ii) no other suspension of the use of, or withdrawal of the effectiveness of, such Registration Statement or related prospectus
shall exist. The Company shall have prepared and filed with the SEC a final and complete prospectus (the preliminary form of which shall
be included in the Registration Statement) and shall have delivered to the Investor a true and complete copy thereof. Such prospectus
shall be current and available for the resale by the Investor of all of the Securities covered thereby.

 

(b)             ACCURACY OF THE COMPANY’S REPRESENTATIONS AND WARRANTIES. The representations and warranties of the Company shall
be true and correct in all material respects as of the Execution Date and as of the date of each Closing (except for representations and
warranties under the first sentence of Section 4.3, which are specifically made as of the Execution Date and shall be true and
correct in all respects as of the Execution Date).

 

(c)             PERFORMANCE
BY THE COMPANY. The Company shall have performed, satisfied and complied in all material respects with all covenants, agreements
and conditions required by this Agreement to be performed, satisfied or complied with by the Company.

 

(d)             NO
INJUNCTION. No statute, rule, regulation, executive order, decree, ruling or injunction shall have been enacted, entered, promulgated
or adopted by any court or governmental authority of competent jurisdiction that prohibits or directly and materially adversely affects
any of the transactions contemplated by the Transaction Documents, and no proceeding shall have been commenced that may have the effect
of prohibiting or materially adversely affecting any of the transactions contemplated by the Transaction Documents.

 

 

 

 

    	 	17	 

     

    

 

(e)             ADVERSE
CHANGES. Since the date of filing of the Company’s most recent SEC Document, no event that had or is reasonably likely to have
a Material Adverse Effect has occurred.

 

(f)              NO SUSPENSION OF TRADING IN OR DELISTING OF COMMON STOCK. The trading of the Common Stock shall not have been suspended
by the SEC, the Principal Market or FINRA, or otherwise halted for any reason, and the Common Stock shall have been approved for listing
or quotation on and shall not have been delisted from the Principal Market. In the event of a suspension, delisting, or halting for any
reason, of the trading of the Common Stock, as contemplated by this Section 7.2(f), the Investor shall have the right to return
to the Company any remaining amount of Put Shares associated with such Put, and the Purchase Price with respect to such Put shall be reduced
accordingly.

 

(g)            BENEFICIAL OWNERSHIP LIMITATION. The number of Put Shares to be purchased by the Investor shall not exceed the number of
such shares that, when aggregated with all other shares of Common Stock then owned by the Investor beneficially or deemed beneficially
owned by the Investor, would result in the Investor owning more than the Beneficial Ownership Limitation (as defined below), as determined
in accordance with Section 16 of the Exchange Act and the regulations promulgated thereunder. For purposes of this Section 7.2(g),
in the event that the amount of Common Stock outstanding, as determined in accordance with Section 16 of the Exchange Act and the regulations
promulgated thereunder, is greater on a Closing Date than on the date upon which the Put Notice associated with such Closing Date is given,
the amount of Common Stock outstanding on such Closing Date shall govern for purposes of determining whether the Investor, when aggregating
all purchases of Common Stock made pursuant to this Agreement, would own more than the Beneficial Ownership Limitation following such
Closing Date. The “Beneficial Ownership Limitation” shall be 9.99% of the number of shares of the Common Stock outstanding
immediately after giving effect to the issuance of shares of Common Stock issuable pursuant to a Put Notice.

 

(h)           
NO KNOWLEDGE. The Company shall have no knowledge of any event more likely than not to have the effect of causing the Registration
Statement to be suspended or otherwise ineffective (which event is more likely than not to occur within the fifteen (15) Trading Days
following the Trading Day on which such Put Notice is deemed delivered). The Company shall have no knowledge of any untrue statement (or
alleged untrue statement) of a material fact or omission (or alleged omission) of a material fact required to be stated therein or necessary
to make the statements therein, in light of the circumstances under which they were made, not misleading, in the Registration Statement,
any effective registration statement filed pursuant to the Registration Rights Agreement or any post-effective amendment or prospectus
which is a part of the foregoing, unless the Company has filed an amendment with the SEC or taken such other.

 

(i)             NO VIOLATION OF SHAREHOLDER APPROVAL REQUIREMENT. The issuance of the Put Shares shall not violate the shareholder approval
requirements of the Principal Market.

 

(j)            
OFFICER’S CERTIFICATE. On the date of delivery of each Put Notice, the Investor shall have received the Closing Certificate
executed by an executive officer of the Company and to the effect that all the conditions to such Closing shall have been satisfied as
of the date of each such certificate.

 

(k)           
DWAC ELIGIBLE. The Common Stock must be DWAC Eligible and not subject to a “DTC chill.”

 

(l)            
SEC DOCUMENTS. All reports, schedules, registrations, forms, statements, information and other documents required to have
been filed by the Company with the SEC pursuant to the reporting requirements of the Exchange Act (other than Forms 8-K) shall have been
filed with the SEC within the applicable time periods prescribed for such filings under the Exchange Act.

 

 (m)           REMOVED AND RESERVED.

 

(n)
           REMOVED AND RESERVED.

 

(o)            MINIMUM PRICING. The lowest traded price of the Common Stock in the five (5) Trading Days immediately preceding the respective
Put Date must exceed $0.001 per share.

 

 

 

 

    	 	18	 

     

    

 

(p)            NO VIOLATION. No statute, regulation, order, guidance, decree, writ, ruling or injunction shall have been enacted, entered,
promulgated, threatened or endorsed by any federal, state, local or foreign court or governmental authority of competent jurisdiction,
including, without limitation, the SEC, which prohibits the consummation of or which would materially modify or delay any of the transactions
contemplated by the Transaction Documents.

 

(q)            Intentionally omitted.

 

ARTICLE VIII

LEGENDS

 

Section 8.1 NO
RESTRICTIVE STOCK LEGEND. No restrictive stock legend shall be placed on the share certificates representing the Put Shares.

 

Section 8.2
INVESTOR’S COMPLIANCE. Nothing in this Article VIII shall affect in any way the Investor’s obligations hereunder
to comply with all applicable securities laws upon the sale of the Common Stock.

 

ARTICLE IX

NOTICES; INDEMNIFICATION

 

Section 9.1
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 (a) personally served, (b) deposited in the mail, registered or certified,
return receipt requested, postage prepaid, (c) delivered by reputable air courier service with charges prepaid, or (d) transmitted by
hand delivery, telegram, or e-mail as a PDF, addressed as set forth below or to such other address as such party shall have specified
most recently by written notice given in accordance herewith. Any notice or other communication required or permitted to be given hereunder
shall be deemed effective (i) upon hand delivery or delivery by e-mail at the address designated below (if delivered on a business day
during normal business hours where such notice is to be received), 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 (ii) on the second business day following
the date of mailing by express courier service or on the fifth business day after deposited in the mail, in each case, 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:

 

King Resources, Inc.

Unit 1813, 18/F, Fo Tan Industrial Centre

26-28 Au Pui Wan Street

Fo Tan

Hong Kong

Email: william.fu@powertechcorp.com

Attention: Fu Wah, CEO

 

If to the Investor:

 

Williamsburg Venture Holdings,

LLC 395 Leonard St, Suite 719

Brooklyn NY, 11211

E-mail: rg@williamsburg.ventures

Attention: Ronald Glenn, Managing Member

 

Either party hereto may from time to time change its
address or e-mail for notices under this Section 9.1 by giving at least ten (10) days’ prior written notice of such changed
address to the other party hereto.

 

 

 

 

    	 	19	 

     

    

 

Section 9.2
INDEMNIFICATION. Each party hereto (an “Indemnifying Party”) agrees to indemnify and hold harmless the other
party along with its officers, directors, employees, and authorized agents and representatives, and each Person or entity, if any, who
controls such party within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act or the rules and regulations
thereunder (an “Indemnified Party”) from and against any and all Damages, joint or several, and any and all actions
in respect thereof to which the Indemnified Party becomes subject to, resulting from, arising out of or relating to (i) any misrepresentation,
breach of warranty or nonfulfillment of or failure to perform any covenant or agreement on the part of the Indemnifying Party contained
in this Agreement, (ii) any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement, any
registration statement pursuant to the Registration Rights Agreement or any post-effective amendment thereof or supplement thereto, or
the omission or alleged omission therefrom of a material fact required to be stated therein or necessary to make the statements therein
not misleading, (iii) any untrue statement or alleged untrue statement of a material fact contained in any preliminary prospectus or contained
in the final prospectus (as amended or supplemented, if the Company files any amendment thereof or supplement thereto with the SEC) or
the omission or alleged omission to state therein any material fact necessary to make the statements made therein, in the light of the
circumstances under which the statements therein were made, not misleading, or (iv) any violation or alleged violation by the Company
of the Securities Act, the Exchange Act, any state securities law or any rule or regulation under the Securities Act, the Exchange Act
or any state securities law, as such Damages are incurred, except to the extent such Damages result primarily from the Indemnified Party’s
failure to perform any covenant or agreement contained in this Agreement or the Indemnified Party’s negligence, recklessness, fraud,
willful misconduct or bad faith in performing its obligations under this Agreement; provided, however, that the foregoing
indemnity agreement shall not apply to any Damages of an Indemnified Party to the extent, but only to the extent, arising out of or based
upon any untrue statement or alleged untrue statement or omission or alleged omission made by an Indemnifying Party in reliance upon and
in conformity with written information furnished to the Indemnifying Party by the Indemnified Party expressly for use in the Registration
Statement, any post- effective amendment thereof or supplement thereto, or any preliminary prospectus or final prospectus (as amended
or supplemented).

 

Section
9.3 METHOD OF ASSERTING INDEMNIFICATION CLAIMS. All claims for indemnification by any Indemnified Party under Section
9.1 shall be asserted and resolved as follows:

 

(a)            In the event any claim or demand in respect of which an Indemnified Party might seek indemnity under Section 9.2 is asserted
against or sought to be collected from such Indemnified Party by a Person other than a party hereto or an affiliate thereof (a “Third
Party Claim”), the Indemnified Party shall deliver a written notification, enclosing a copy of all papers served, if any, and
specifying the nature of and basis for such Third Party Claim and for the Indemnified Party’s claim for indemnification that is
being asserted under any provision of Section 9.2 against an Indemnifying Party, together with the amount or, if not then reasonably
ascertainable, the estimated amount, determined in good faith, of such Third Party Claim (a “Claim Notice”) with reasonable
promptness to the Indemnifying Party. If the Indemnified Party fails to provide the Claim Notice with reasonable promptness after the
Indemnified Party receives notice of such Third Party Claim, the Indemnifying Party shall not be obligated to indemnify the Indemnified
Party with respect to such Third Party Claim to the extent that the Indemnifying Party’s ability to defend has been prejudiced by
such failure of the Indemnified Party. The Indemnifying Party shall notify the Indemnified Party as soon as practicable within the period
ending thirty (30) calendar days following receipt by the Indemnifying Party of either a Claim Notice or an Indemnity Notice (as defined
below) (the “Dispute Period”) whether the Indemnifying Party disputes its liability or the amount of its liability
to the Indemnified Party under Section 9.2 and whether the Indemnifying Party desires, at its sole cost and expense, to defend
the Indemnified Party against such Third Party Claim.

 

 

 

 

    	 	20	 

     

    

 

(i)              If the Indemnifying Party notifies the Indemnified Party within the Dispute Period that the Indemnifying Party desires to defend
the Indemnified Party with respect to the Third Party Claim pursuant to this Section 9.3(a), then the Indemnifying Party shall
have the right to defend, with counsel reasonably satisfactory to the Indemnified Party, at the sole cost and expense of the Indemnifying
Party, such Third Party Claim by all appropriate proceedings, which proceedings shall be vigorously and diligently prosecuted by the Indemnifying
Party to a final conclusion or will be settled at the discretion of the Indemnifying Party (but only with the consent of the Indemnified
Party in the case of any settlement that provides for any relief other than the payment of monetary damages or that provides for the payment
of monetary damages as to which the Indemnified Party shall not be indemnified in full pursuant to Section 9.1). The Indemnifying
Party shall have full control of such defense and proceedings, including any compromise or settlement thereof; provided, however,
that the Indemnified Party may, at the sole cost and expense of the Indemnified Party, at any time prior to the Indemnifying Party’s
delivery of the notice referred to in the first sentence of this clause (i), file any motion, answer or other pleadings or take any other
action that the Indemnified Party reasonably believes to be necessary or appropriate to protect its interests; and provided, further,
that if requested by the Indemnifying Party, the Indemnified Party will, at the sole cost and expense of the Indemnifying Party, provide
reasonable cooperation to the Indemnifying Party in contesting any Third Party Claim that the Indemnifying Party elects to contest. The
Indemnified Party may participate in, but not control, any defense or settlement of any Third Party Claim controlled by the Indemnifying
Party pursuant to this clause (i), and except as provided in the preceding sentence, the Indemnified Party shall bear its own costs and
expenses with respect to such participation. Notwithstanding the foregoing, the Indemnified Party may takeover the control of the defense
or settlement of a Third Party Claim at any time if it irrevocably waives its right to indemnity under Section 9.1 with respect
to such Third Party Claim.

 

(ii)            If the Indemnifying Party fails to notify the Indemnified Party within the Dispute Period that the Indemnifying Party desires to
defend the Third Party Claim pursuant to this Section 9.3(a), or if the Indemnifying Party gives such notice but fails to prosecute
vigorously and diligently or settle the Third Party Claim, or if the Indemnifying Party fails to give any notice whatsoever within the
Dispute Period, then the Indemnified Party shall have the right to defend, at the sole cost and expense of the Indemnifying Party, the
Third Party Claim by all appropriate proceedings, which proceedings shall be prosecuted by the Indemnified Party in a reasonable manner
and in good faith or will be settled at the discretion of the Indemnified Party(with the consent of the Indemnifying Party, which consent
will not be unreasonably withheld). The Indemnified Party will have full control of such defense and proceedings, including any compromise
or settlement thereof; provided, however, that if requested by the Indemnified Party, the Indemnifying Party will, at the sole cost and
expense of the Indemnifying Party, provide reasonable cooperation to the Indemnified Party and its counsel in contesting any Third Party
Claim which the Indemnified Party is contesting. Notwithstanding the foregoing provisions of this clause (ii), if the Indemnifying Party
has notified the Indemnified Party within the Dispute Period that the Indemnifying Party disputes its liability or the amount of its liability
hereunder to the Indemnified Party with respect to such Third Party Claim and if such dispute is resolved in favor of the Indemnifying
Party in the manner provided in clause (iii) below, the Indemnifying Party will not be required to bear the costs and expenses of the
Indemnified Party’s defense pursuant to this clause (ii) or of the Indemnifying Party’s participation therein at the Indemnified
Party’s request, and the Indemnified Party shall reimburse the Indemnifying Party in full for all reasonable costs and expenses
incurred by the Indemnifying Party in connection with such litigation. The Indemnifying Party may participate in, but not control, any
defense or settlement controlled by the Indemnified Party pursuant to this clause (ii), and the Indemnifying Party shall bear its own
costs and expenses with respect to such participation.

 

 

 

 

    	 	21	 

     

    

 

(iii)            If the Indemnifying Party notifies the Indemnified Party that it does not dispute its liability or the amount of its liability
to the Indemnified Party with respect to the Third Party Claim under Section 9.1 or fails to notify the Indemnified Party within
the Dispute Period whether the Indemnifying Party disputes its liability or the amount of its liability to the Indemnified Party with
respect to such Third Party Claim, the amount of Damages specified in the Claim Notice shall be conclusively deemed a liability of the
Indemnifying Party under Section 9.1 and the Indemnifying Party shall pay the amount of such Damages to the Indemnified Party on
demand. If the Indemnifying Party has timely disputed its liability or the amount of its liability with respect to such Third Party Claim,
the Indemnifying Party and the Indemnified Party shall proceed in good faith to negotiate a resolution of such dispute; provided,
however, that if the dispute is not resolved within thirty (30) days after the Claim Notice, the Indemnifying Party shall be entitled
to institute such legal action as it deems appropriate.

 

(b)            In the event any Indemnified Party should have a claim under Section 9.1 against the Indemnifying Party that does not involve
a Third Party Claim, the Indemnified Party shall deliver a written notification of a claim for indemnity under Section 9.1 specifying
the nature of and basis for such claim, together with the amount or, if not then reasonably ascertainable, the estimated amount, determined
in good faith, of such claim (an “Indemnity Notice”) with reasonable promptness to the Indemnifying Party. The failure
by any Indemnified Party to give the Indemnity Notice shall not impair such party’s rights hereunder except to the extent that the
Indemnifying Party demonstrates that it has been irreparably prejudiced thereby. If the Indemnifying Party notifies the Indemnified Party
that it does not dispute the claim or the amount of the claim described in such Indemnity Notice or fails to notify the Indemnified Party
within the Dispute Period whether the Indemnifying Party disputes the claim or the amount of the claim described in such Indemnity Notice,
the amount of Damages specified in the Indemnity Notice will be conclusively deemed a liability of the Indemnifying Party under Section
9.1 and the Indemnifying Party shall pay the amount of such Damages to the Indemnified Party on demand. If the Indemnifying Party
has timely disputed its liability or the amount of its liability with respect to such claim, the Indemnifying Party and the Indemnified
Party shall proceed in good faith to negotiate a resolution of such dispute; provided, however, that if the dispute is not resolved within
thirty (30) days after the Claim Notice, the Indemnifying Party shall be entitled to institute such legal action as it deems appropriate.

 

(c)            The Indemnifying Party agrees to pay the Indemnified Party, promptly as such expenses are incurred and are due and payable, for
any reasonable legal fees or other reasonable expenses incurred by them in connection with investigating or defending any such Claim.

 

(d)            The indemnity provisions contained herein shall be in addition to (i) any cause of action or similar rights of the Indemnified
Party against the Indemnifying Party or others, and (ii) any liabilities the Indemnifying Party may be subject to.

 

ARTICLE
X

 MISCELLANEOUS

 

Section
10.1 GOVERNING LAW. This Agreement shall be governed by and interpreted in accordance with the laws of the State of New York
without regard to the principles of conflicts of law (whether of the State of New York or any other jurisdiction).

 

Section
10.2 ARBITRATION. Any disputes, claims, or controversies arising out of or relating to the Transaction Documents, or the
transactions, contemplated thereby, or the breach, termination, enforcement, interpretation or validity thereof, including the
determination of the scope or applicability of this Agreement to arbitrate, shall be referred to and resolved solely and exclusively
by binding arbitration to be conducted before the Judicial Arbitration and Mediation Service (“JAMS” ), or its
successor pursuant the expedited procedures set forth in the JAMS Comprehensive Arbitration Rules and Procedures (the
“Rules” ), including Rules 16.1 and 16.2 of those Rules. The arbitration shall be held in New York, New York,
before a tribunal consisting of three (3) arbitrators each of whom will be selected in accordance with the “strike and
rank” methodology set forth in Rule 15. Either party to this Agreement may, without waiving any remedy under this Agreement,
seek from any federal or state court sitting in the State of New York any interim or provisional relief that is necessary to protect
the rights or property of that party, pending the establishment of the arbitral tribunal. The costs and expenses of such arbitration
shall be paid by and be the sole responsibility of the Company, including but not limited to the Investor’s attorneys’
fees and each arbitrator’s fees. The arbitrators’ decision must set forth a reasoned basis for any award of damages or
finding of liability. The arbitrators’ decision and award will be made and delivered as soon as reasonably possibly and in any
case within sixty (60) days’ following the conclusion of the arbitration hearing and shall be final and binding on the parties
and may be entered by any court having jurisdiction thereof.

 

 

 

 

    	 	22	 

     

    

 

Section
10.3 JURY TRIAL WAIVER. THE COMPANY AND THE INVESTOR HEREBY WAIVE A TRIAL BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM
BROUGHT BY EITHER OF THE PARTIES HERETO AGAINST THE OTHER IN RESPECT OF ANY MATTER ARISING OUT OF OR IN CONNECTION WITH THE TRANSACTION
DOCUMENTS.

 

Section 10.4
ASSIGNMENT. This Agreement shall be binding upon and inure to the benefit of the Company and the Investor and their respective
successors. Neither this Agreement nor any rights of the Investor or the Company hereunder may be assigned by either party to any other
Person.

 

Section 10.5
NO THIRD PARTY BENEFICIARIES. This Agreement is intended for the benefit of the Company and the Investor and their respective successors,
and is not for the benefit of, nor may any provision hereof be enforced by, any other Person, except as set forth in Article IX.

 

Section
10.6 TERMINATION. The Company may terminate this Agreement at any time by written notice to the Investor, except while the
Investor holds any of the Put Shares. In addition, this Agreement shall automatically terminate on the earlier of (i) the end of the
Commitment Period; (ii) the date that the Company sells and the Investor purchases the Maximum Commitment Amount; or (iii) the date
in which the Registration Statement is no longer effective, or (iv) the date that, pursuant to or within the meaning of any
Bankruptcy Law, the Company or the Investor commences a voluntary case or any Person commences a proceeding against the Company or
the Investor, a Custodian is appointed for the Company or the Investor or for all or substantially all of its property or the
Company or the Investor makes a general assignment for the benefit of its creditors as applicable; provided, however, that the
provisions of Articles III, IV, V, VI, IX and the agreements and covenants of the Company and the Investor set forth in Article
X shall survive the termination of this Agreement for the maximum length of time allowed under applicable law.

 

Section 10.7
ENTIRE AGREEMENT. The Transaction Documents, together with the exhibits and schedules thereto, contain the entire understanding
of the Company and the Investor with respect to the matters covered herein and therein and supersede all prior agreements and understandings,
oral or written, with respect to such matters, which the parties acknowledge have been merged into such documents, exhibits and schedules.

 

Section 10.8
FEES AND EXPENSES. Except as expressly set forth in the Transaction Documents or any other writing to the contrary, 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, Investors fees related to the DWAC of Securities, stamp taxes and other taxes and duties levied in connection with the delivery
of any Securities to the Investor. The Investor shall withhold $12,500 from the Investment Amount with respect to the first Put under
this Agreement for reimbursement of the Investor’s expenses relating to the preparation of the Transaction Documents. The Company
shall also pay the Investor $12,500 in cash for reimbursement of the Investor’s expenses relating to the preparation of the Transaction
Documents.

 

Section 10.9
COUNTERPARTS. This Agreement may be executed in multiple counterparts, each of which may be executed by less than all of the parties
and shall be deemed to be an original instrument which shall be enforceable against the parties actually executing such counterparts and
all of which together shall constitute one and the same instrument. This Agreement may be delivered to the other parties hereto by e-mail
of a copy of this Agreement bearing the signature of the parties so delivering this Agreement.

 

 

 

 

    	 	23	 

     

    

 

Section 10.10
SEVERABILITY. In the event that any provision of this Agreement becomes or is declared by a court of competent jurisdiction to
be illegal, unenforceable or void, this Agreement shall continue in full force and effect without said provision; provided that such severability
shall be ineffective if it materially changes the economic benefit of this Agreement to any party.

 

Section 10.11
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.

 

Section 10.12
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.

 

Section 10.13
EQUITABLE RELIEF. The Company acknowledges that a breach by it of its obligations hereunder will cause irreparable harm to the
Investor 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 Investor 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.

 

Section 10.14
TITLE AND SUBTITLES. The titles and subtitles used in this Agreement are used for the convenience of reference and are not to be
considered in construing or interpreting this Agreement.

 

Section 10.15
AMENDMENTS; WAIVERS. No provision of this Agreement may be amended or waived by the parties from and after the date that is one
(1) Trading Day immediately preceding the initial filing of the Registration Statement with the SEC. Subject to the immediately preceding
sentence, (i) no provision of this Agreement may be amended other than by a written instrument signed by both parties hereto and (ii)
no provision of this Agreement may be waived other than in a written instrument signed by the party against whom enforcement of such waiver
is sought. No failure or delay in the exercise of any power, right or privilege hereunder shall operate as a waiver thereof, nor shall
any single or partial exercise of any such power, right or privilege preclude other or further exercise thereof or of any other right,
power or privilege.

 

Section 10.16
PUBLICITY. The Company and the Investor shall consult with each other in issuing any press releases or otherwise making public
statements with respect to the transactions contemplated hereby and no party shall issue any such press release or otherwise make any
such public statement, other than as required by law, without the prior written consent of the other parties, which consent shall not
be unreasonably withheld or delayed, except that no prior consent shall be required if such disclosure is required by law, in which such
case the disclosing party shall provide the other party with prior notice of such public statement. Notwithstanding the foregoing, the
Company shall not publicly disclose the name of the Investor without the prior written consent of the Investor, except to the extent required
by law. The Investor acknowledges that this Agreement and all or part of the Transaction Documents may be deemed to be “material
contracts,” as that term is defined by Item 601(b)(10) of Regulation S-K, and that the Company may therefore be required to file
such documents as exhibits to reports or registration statements filed under the Securities Act or the Exchange Act. The Investor further
agrees that the status of such documents and materials as material contracts shall be determined solely by the Company, in consultation
with its counsel.

 

 

** Signature Page Follows
**

 

 

 

 

 

 

 

 

 

 

 

    	 	24	 

     

    

 

IN WITNESS WHEREOF, the
parties have caused this Agreement to be duly executed by their respective officers thereunto duly authorized as of the Execution Date.

 

	 	King Resources, Inc.
	 	 
	 	 
	 	By: /s/ Fu Wah                                             
	 	Name: Fu Wah
	 	Title: Chief Executive Officer
	 	 
	 	 
	 	 
	 	Williamsburg Venture Holdings, LLC
	 	 
	 	 
	 	By: /s/ Ronald
  Glenn                                             
	 	Name: Ronald Glenn
	 	Title: Managing Member
	 	 
	 	 

 

** Signature Page to
Equity Purchase Agreement **

 

 

 

 

 

    	 	25	 

     

    

 

EXHIBIT A

 

FORM OF PUT NOTICE

TO: Williamsburg Venture Holdings, LLC

 

DATE:                            

 

We refer to
the Equity Purchase Agreement, dated June 21, 2022 (the “Agreement”), entered into by and between King Resources, Inc.
and you. Capitalized terms defined in the Agreement shall, unless otherwise defined herein, have the same meaning when used herein.

 

We hereby:

 

		1)	Give you notice that we require you to purchase        Put Shares; and

 

		2)	The purchase price per share, pursuant
to the terms of the Agreement, is       ; and

 

	 	3)	Certify that, as of the date hereof, the conditions set forth in Section 7.2 of the Agreement are satisfied.

 

 

	 	King Resources, Inc.
	 	 
	 	By:                                             
	 	Name: Fu Wah
	 	Title: Chief Executive Officer

 

 

 

 

 

    	 	26	 

     

    

 

EXHIBIT B

 

FORM OF OFFICER’S CERTIFICATE

OF King
Resources, Inc.

 

Pursuant to Section 7.2(k)
of that certain equity purchase agreement, dated June 21, 2022 (the “Agreement”), by and between King Resources, Inc.
(the “Company”) and Williamsburg Venture Holdings, LLC (the “Investor”), the undersigned, in his
capacity as Chief Executive Officer of the Company, and not in his individual capacity, hereby certifies, as of the date hereof (such
date, the “Condition Satisfaction Date”), the following:

 

1.             
The representations and warranties of the Company are true and correct in all material respects as of the Condition Satisfaction
Date as though made on the Condition Satisfaction Date (except for representations and warranties specifically made as of a particular
date), except for any conditions which have been waived by the Investor or temporarily caused any representations or warranties of the
Company set forth in the Agreement to be incorrect and which have been corrected with no continuing impairment to the Company or the Investor;
and

 

2.            
All of the conditions precedent to the obligation of the Investor to purchase Put Shares set forth in the Agreement, including
but not limited to Section 7.2 of the Agreement, have been satisfied as of the Condition Satisfaction Date.

 

Capitalized terms used herein shall
have the meanings set forth in the Agreement unless otherwise defined herein.

 

IN WITNESS WHEREOF, the undersigned has hereunto
affixed his hand as of June 21, 2022.

 

 

 

	 	By:                                             
	 	Name: Fu Wah
	 	Title: Chief Executive Officer
	 	 

 

 

 

 

 

 

 

 

    	 	27	 

     

    

 

EXHIBIT C

 

FORM OF TRANSFER AGENT

INSTRUCTION
LETTER

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    	 	28	 

     

    

 

EXHIBIT D

 

FORM OF REGISTRATION RIGHTS AGREEMENT

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    	 	29	 

     

    

 

 

DISCLOSURE SCHEDULES

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    	 	30Exhibit 10.2

 

REGISTRATION
RIGHTS AGREEMENT

 

REGISTRATION
RIGHTS AGREEMENT (this “Agreement”), dated as of June 21, 2022 (the “Execution Date”), is entered
into by and between King Resources, Inc., a Delaware corporation (the “Company”), and Williamsburg Venture Holdings,
LLC, a Nevada limited liability company (together with its permitted assigns, the “Buyer”). Capitalized terms
used herein and not otherwise defined herein shall have the respective meanings set forth in that certain Equity Purchase Agreement by
and between the parties hereto, dated as of the Execution Date (as amended, restated, supplemented or otherwise modified from time to
time, the “Purchase Agreement”).

 

WHEREAS:

 

The Company
has agreed, upon the terms and subject to the conditions of the Purchase Agreement, to sell to the Buyer up to Twenty Million Dollars
($20,000,000.00) of Put Shares, and to induce the Buyer to enter into the Purchase Agreement, the Company has agreed to provide certain
registration rights under the Securities Act of 1933, as amended, and the rules and regulations thereunder, or any similar successor statute
(collectively, the “Securities Act”), and applicable state securities laws.

 

NOW, THEREFORE,
in consideration of the promises and the mutual covenants contained herein and other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the Company and the Buyer hereby agree as follows:

 

		1.	DEFINITIONS.

 

As used in this Agreement, the
following terms shall have the following meanings:

 

a.              Investor”
means the Buyer, any transferee or assignee thereof to whom the Buyer assigns its rights under this Agreement in accordance with Section
9 and who agrees to become bound by the provisions of this Agreement, and any transferee or assignee thereof to whom a transferee
or assignee assigns its rights under this Agreement in accordance with Section 9 and who agrees to become bound by the provisions
of this Agreement.

 

b.              “Person” means any individual or entity including but not limited to any corporation, a limited liability company,
an association, a partnership, an organization, a business, an individual, a governmental or political subdivision thereof or a governmental
agency.

 

c.              “Register,” “Registered,” and “Registration” refer to a registration effected
by preparing and filing one or more registration statements of the Company in compliance with the Securities Act and/or pursuant to Rule
415 under the Securities Act or any successor rule providing for the offering of securities on a continuous basis (“Rule 415”),
and the declaration or ordering of effectiveness of such registration statement(s) by the United States Securities and Exchange Commission
(the “SEC”).

 

d.              “Registrable
Securities” means all of the (i) Commitment Shares, (ii) Put Shares which have been, or which may, from time to time be issued,
including without limitation all of the shares of Common Stock which have been issued or will be issued to the Investor under the Purchase
Agreement (without regard to any limitation or restriction on purchases), (iii) any and all shares of capital stock issued or issuable
with respect to each of the Transaction Documents, and (iv) any and all shares of capital stock issued or issuable with respect to the
Put Shares, Commitment Shares and the Purchase Agreement as a result of any stock split, stock dividend, recapitalization, exchange or
similar event or otherwise, without regard to any limitation on purchases under the Purchase Agreement.

 

e.              “Registration Statement” means one or more registration statements of the Company on Form S-1 covering only
the resale of the Registrable Securities including the Initial Registration Statement and any New Registration Statement or Other Registration
Statement (each as defined herein).

 

 

 

 

    	 	1	 

     

    

 

		2.	REGISTRATION.

 

a.            
Mandatory Registration. The Company shall, by December 20, 2022, file with the SEC an initial Registration Statement on
Form S-1 covering the maximum number of Registrable Securities as shall be permitted to be included thereon in accordance with applicable
SEC rules, regulations and interpretations so as to permit the resale of such Registrable Securities by the Investor, including but not
limited to under Rule 415 under the Securities Act at then prevailing market prices (and not fixed prices), as mutually determined by
both the Company and the Investor in consultation with their respective legal counsel (the “Initial Registration Statement”).
The Initial Registration Statement shall register only Registrable Securities. The Company shall use its reasonable efforts to have the
Initial Registration Statement and any amendment thereto declared effective by the SEC at the earliest possible date.

 

b.            
Rule 424 Prospectus. In addition to the Initial Registration Statement, the Company shall, as required by applicable securities
regulations, from time to time file with the SEC, pursuant to Rule 424 promulgated under the Securities Act, such prospectuses and prospectus
supplements, if any, to be used in connection with sales of the Registrable Securities under each Registration Statement. The Investor
and its counsel shall have a reasonable opportunity to review and comment upon such prospectuses prior to its filing with the SEC, and
the Company shall give due consideration to all such comments. The Investor shall use its reasonable efforts to comment upon any prospectus
within two (2) business days from the date the Investor receives the final pre-filing version of such prospectus.

 

c.            
Sufficient Number of Shares Registered. In the event the number of shares available under the Initial Registration Statement
is insufficient to cover all of the Registrable Securities, the Company shall amend the Initial Registration Statement or file a new Registration
Statement (a “New Registration Statement”), so as to cover all of such Registrable Securities (subject to the limitations
set forth in Section 2(e)) as soon as practicable, but in any event not later than ten (10) business days after the necessity therefor
arises, subject to any limits that may be imposed by the SEC pursuant to Rule 415 under the Securities Act. The Company shall use its
reasonable efforts to cause such amendment and/or New Registration Statement to become effective as soon as practicable following the
filing thereof. In the event that any of the Registrable Securities are not included in the Initial Registration Statement, or have not
been included in any New Registration Statement, and the Company files any other registration statement under the Securities Act (other
than on Form S-4, Form S-8, or with respect to other employee related plans or rights offerings) (an “Other Registration Statement”),
then the Company shall include in such Other Registration Statement first all of such Registrable Securities that have not been previously
Registered, and second any other securities the Company wishes to include in such Other Registration Statement. The Company agrees that
it shall not file any such Other Registration Statement unless all of the Registrable Securities have been included in such Other Registration
Statement or otherwise have been Registered for resale as described above.

 

d.             
Effectiveness. The Investor and its counsel shall have a reasonable opportunity to review and comment upon any Registration
Statement and any amendment or supplement to such Registration Statement and any related prospectus prior to its filing with the SEC,
and the Company shall give due consideration to all reasonable comments. The Investor shall furnish all information reasonably requested
by the Company for inclusion therein. The Company shall use reasonable efforts to keep all Registration Statements effective, including
but not limited to pursuant to Rule 415 promulgated under the Securities Act and available for the resale by the Investor of all of the
Registrable Securities covered thereby at all times until the earlier of (i) the date as of which the Investor may sell all of the Registrable
Securities without restriction pursuant to Rule 144 promulgated under the Securities Act without any restrictions (including any restrictions
under Rule 144(c) or Rule 144(i)) and (ii) the date on which the Investor shall have sold all the Registrable Securities covered thereby
and no Put Shares remain issuable under the Purchase Agreement and (iii) the date on which the Purchase Agreement is terminated and the
Registerable Securities issued to the Investor may be sold without restriction pursuant to Rule 144 promulgated under the Securities Act
without restriction (the “Registration Period”). In the event that any Registration Statement filed hereunder is no
longer effective and Rule 144 is available for sales of the Registrable Securities, the Company shall provide an opinion upon request
of the Investor that the Investor may sell any such Registrable Securities held by the Investor pursuant to Rule 144 with all costs related
to such opinion to be borne by the Company. Each Registration Statement (including any amendments or supplements thereto and prospectuses
contained therein) shall not contain any untrue statement of a material fact or omit to state a material fact required to be stated therein,
or necessary to make the statements therein, in light of the circumstances in which they were made, not misleading.

 

 

 

 

    	 	2	 

     

    

 

e.            
Offering. If the staff of the SEC (the “Staff”) or the SEC seeks to characterize any offering pursuant
to a Registration Statement filed pursuant to this Agreement as constituting an offering of securities that does not permit such Registration
Statement to become or remain effective and be used for resales by the Investor under Rule 415 at then- prevailing market prices (and
not fixed prices) by comment letter or otherwise, or if after the filing of the Initial Registration Statement with the SEC pursuant to
Section 2(a), the Company is otherwise required by the Staff or the SEC to reduce the number of Registrable Securities included
in such initial Registration Statement, then the Company shall reduce the number of Registrable Securities to be included in such Initial
Registration Statement on a pro rata basis among holders of Registerable Securities until such time as the Staff and the SEC shall so
permit such Registration Statement to become effective and be used as aforesaid. In the event of any reduction in Registrable Securities
pursuant to this paragraph, the Company shall file one or more New Registration Statements in accordance with Section 2(c) until
such time as all Registrable Securities that have actually been issued and are not otherwise eligible for legend removal under Rule 144
of the Securities Act or otherwise have been included in Registration Statements that have been declared effective and the prospectus
contained therein is available for use by the Investor. Notwithstanding any provision herein or in the Purchase Agreement to the contrary,
the Company’s obligations to register Registrable Securities (and any related conditions to the Investor’s obligations) shall
be qualified as necessary to comport with any requirement of the SEC or the Staff as addressed in this Section 2(e).

 

		3.	RELATED OBLIGATIONS.

 

With respect
to a Registration Statement and whenever any Registrable Securities are to be Registered pursuant to Section 2, including on any
Other Registration Statement, the Company shall use its reasonable efforts to effect the registration of the Registrable Securities in
accordance with the intended method of disposition thereof and, pursuant thereto, the Company shall have the following obligations:

 

a.              The Company shall prepare and file with the SEC such amendments (including post-effective amendments on Form S-1) and supplements
to any Registration Statement and any Other Registration Statement and the prospectus used in connection with such Registration Statement
and Other Registration Statement, which prospectus is to be filed pursuant to Rule 424 promulgated under the Securities Act, as may be
necessary to keep the Registration Statement effective at all times during the Registration Period, and, during such period, comply with
the provisions of the Securities Act with respect to the disposition of all Registrable Securities of the Company covered by the Registration
Statement or applicable Other Registration Statement until such time as all of such Registrable Securities shall have been disposed of
in accordance with the intended methods of disposition by the seller or sellers thereof as set forth in such registration statement.

 

b.              The Company shall permit the Investor to review and comment upon each Registration Statement or any Other Registration Statement
(that includes Registrable Securities issuable to the Investor) and all amendments and supplements thereto at least two (2) business days
prior to their filing with the SEC, and not file any document in a form to which Investor reasonably objects. The Investor shall use its
reasonable efforts to comment upon the Registration Statement or any such Other Registration Statement and any amendments or supplements
thereto within two (2) business days from the date the Investor receives the final version thereof. The Company shall furnish to the Investor,
without charge, and within one (1) Business Day, any comments and/or any other correspondence from the SEC or the Staff to the Company
or its representatives relating to the Registration Statement or such Other Registration Statement. The Company shall respond to the SEC
or the Staff, as applicable, regarding the resolution of any such comments and/or correspondence as promptly as practicable.

 

Upon request of the Investor, the Company shall furnish
to the Investor, (i) promptly after the same is prepared and filed with the SEC, at least one copy of such Registration Statement and
any amendment(s) thereto, including financial statements and schedules, all documents incorporated therein by reference and all exhibits,
(ii) upon the effectiveness of any Registration Statement, a copy of the prospectus included in such Registration Statement and all amendments
and supplements thereto (or such other number of copies as the Investor may reasonably request) and (iii) such other documents, including
copies of any preliminary or final prospectus, as the Investor may reasonably request from time to time in order to facilitate the disposition
of the Registrable Securities owned by the Investor. For the avoidance of doubt, any filing available to the Investor via the SEC’s
live EDGAR system shall be deemed “furnished to the Investor” hereunder.

 

 

 

 

    	 	3	 

     

    

 

c.              The Company
shall use reasonable efforts to (i) register and qualify the Registrable Securities covered by a Registration Statement under such other
securities or “blue sky” laws of Puerto Rico, New York, Kansas, Florida and such other jurisdictions in the United States
as the Investor reasonably requests, (ii) prepare and file in those jurisdictions, such amendments (including post-effective amendments)
and supplements to such registrations and qualifications as may be necessary to maintain the effectiveness thereof during the Registration
Period, (iii) take such other actions as may be necessary to maintain such registrations and qualifications in effect at all times during
the Registration Period, and (iv) take all other actions reasonably necessary or advisable to qualify the Registrable Securities for
sale in such jurisdictions; provided, however, that the Company shall not be required in connection therewith or as a condition thereto
to (x) qualify to do business in any jurisdiction where it would not otherwise be required to qualify but for this Section 3(d),
(y) subject itself to general taxation in any such jurisdiction, or (z) file a general consent to service of process in any such jurisdiction.
The Company shall promptly notify the Investor who holds Registrable Securities of the receipt by the Company of any notification with
respect to the suspension of the registration or qualification of any of the Registrable Securities for sale under the securities or
“blue sky” laws of any jurisdiction in the United States or its receipt of actual notice of the initiation or threatening
of any proceeding for such purpose.

 

d.             As promptly
as practicable after becoming aware of such event or facts, the Company shall notify the Investor in writing of the happening of any
event or existence of such facts as a result of which the prospectus included in any Registration Statement, as then in effect, includes
an untrue statement of a material fact or omits to state a material fact required to be stated therein or necessary to make the statements
therein, in light of the circumstances under which they were made, not misleading, and promptly prepare a supplement or amendment to
such Registration Statement to correct such untrue statement or omission, and deliver a copy of such supplement or amendment to the Investor
(or such other number of copies as the Investor may reasonably request). The Company shall also promptly notify the Investor in writing
(i) when a prospectus or any prospectus supplement or post-effective amendment has been filed, and when a Registration Statement or any
post-effective amendment thereto has become effective (notification of such effectiveness shall be delivered to the Investor by email
or facsimile on the same day of such effectiveness and by overnight mail), (ii) of any request by the SEC for amendments or supplements
to any Registration Statement or related prospectus or related information, and (iii) of the Company’s reasonable determination
that a post-effective amendment to a Registration Statement would be appropriate.

 

e.              The Company shall use its reasonable efforts to prevent the issuance of any stop order or other suspension of effectiveness of any registration
statement, or the suspension of the qualification of any Registrable Securities for sale in any jurisdiction and, if such an order or
suspension is issued, to obtain the withdrawal of such order or suspension at the earliest possible moment and to notify the Investor
of the issuance of such order and the resolution thereof or its receipt of actual notice of the initiation or threat of any proceeding
for such purpose. In addition, if the Company shall receive any comment letter from the SEC relating
to any Registration Statement under which Registrable Securities are Registered, the Company shall notify the Investor of the issuance
of such order and use its reasonable efforts to address such comments in a manner satisfactory to the SEC.

 

f.               The Company
shall (i) cause all the Registrable Securities to be listed on each securities exchange on which securities of the same class or series
issued by the Company are then listed, if any, if the listing of such Registrable Securities is then permitted under the rules of such
exchange, or (ii) secure designation and quotation of all the Registrable Securities on the Principal Market. The Company shall pay all
fees and expenses in connection with satisfying its obligation under this Section.

 

g.             The
Company shall cooperate with the Investor to facilitate the timely preparation and delivery of DWAC Shares representing the Registrable
Securities to be offered pursuant to any Registration Statement. “DWAC Shares” means shares of Common Stock that are
(i) issued in electronic form, (ii) freely tradable and transferable and without restriction on resale and (iii) timely credited by the
Company to the Investor’s or its designee’s specified DWAC account with The Depository Trust Company (“DTC”)
under the DTC/FAST Program, or any similar program hereafter adopted by DTC performing substantially the same function.

 

 

 

 

    	 	4	 

     

    

 

h.              The Company
shall at all times maintain the services of its Transfer Agent and registrar with respect to its Common Stock.

 

i.              
If reasonably requested by the Investor, the Company shall (i) immediately incorporate in a prospectus supplement or post-effective
amendment such information as the Investor believes should be included therein relating to the sale and distribution of Registrable Securities,
including, without limitation, information with respect to the number of Registrable Securities being sold, the purchase price being paid
therefor and any other terms of the offering of the Registrable Securities; (ii) make all required filings of such prospectus supplement
or post-effective amendment as soon as practicable upon notification of the matters to be incorporated in such prospectus supplement or
post-effective amendment; and (iii) supplement or make amendments to any Registration Statement.

 

j.               The Company
shall use its reasonable efforts to cause the Registrable Securities covered by any Registration Statement to be registered with or approved
by such other governmental agencies or authorities as may be necessary to consummate the disposition of such Registrable Securities.

 

k.              Within one (1)
Business Day after any Registration Statement which includes Registrable Securities is ordered effective by the SEC, or any prospectus
supplement or post-effective amendment including Registrable Securities is filed with the SEC, the Company shall deliver, and shall cause
legal counsel for the Company to deliver, to the Transfer Agent for such Registrable Securities (with copies to the Investor) confirmation
that such Registration Statement has been declared effective by the SEC in the form attached hereto as Exhibit A. Thereafter,
if requested by the Investor at any time, the Company shall require its counsel to deliver to the Investor a written confirmation whether
or not (i) the effectiveness of such Registration Statement has lapsed at any time for any reason (including, without limitation, the
issuance of a stop order) (ii) any comment letter has been issued by the SEC and (iii) whether or not the Registration Statement is current
and available to the Investor for sale of all of the Registrable Securities.

 

l.               The Company
shall take all other reasonable actions necessary to expedite and facilitate disposition by the Investor of Registrable Securities pursuant
to any Registration Statement.

 

		4.	OBLIGATIONS OF THE INVESTOR.

 

a.             
The Company shall notify the Investor in writing of the information the Company reasonably requires from the Investor in connection
with any Registration Statement hereunder. The Investor shall furnish to the Company such information regarding itself, the Registrable
Securities held by it and the intended method of disposition of the Registrable Securities held by it as shall be reasonably required
to effect the registration of such Registrable Securities and shall execute such documents in connection with such registration as the
Company may reasonably request. Notwithstanding the foregoing, the Registration Statement shall contain the “Selling Stockholder”
and “Plan of Distribution” sections, each in substantially the form provided to the Company by the Investor.

 

b.              The Investor
agrees to cooperate with the Company as reasonably requested by the Company in connection with the preparation and filing of any Registration
Statement hereunder.

 

c.              The Investor
agrees that, upon receipt of any notice from the Company of the happening of any event or existence of facts of the kind described in
Section 3(f) or the first sentence of Section 3(e), the Investor will immediately discontinue disposition of Registrable
Securities pursuant to any Registration Statement(s) covering such Registrable Securities until withdrawal of a stop order contemplated
by Section 3(f) or the Investor’s receipt of the copies of the supplemented or amended prospectus contemplated by Section
3(e). Notwithstanding anything to the contrary, the Company shall cause its Transfer Agent to promptly issue DWAC Shares in accordance
with the terms of the Purchase Agreement in connection with any sale of Registrable Securities with respect to which an Investor has
entered into a contract for sale prior to the Investor’s receipt of a notice from the Company of the happening of any event of
the kind described in Section 3(f) or the first sentence of Section 3(e) and for which the Investor has not yet settled.

 

 

 

 

    	 	5	 

     

    

 

		5.	EXPENSES OF REGISTRATION.

 

All reasonable
expenses, other than sales or brokerage commissions, incurred in connection with registrations, filings or qualifications pursuant to
Sections 2 and 3, including, without limitation, all registration, listing and qualifications fees, printers and accounting
fees, and fees and disbursements of counsel for the Company, shall be paid by the Company.

 

		6.	INDEMNIFICATION.

 

a.              To the fullest
extent permitted by law, the Company will, and hereby does, indemnify, hold harmless and defend the Investor, each Person, if any, who
controls or is under common control with the Investor, the members, the directors, officers, partners, employees, agents, representatives
of the Investor and each Person, if any, who is an “affiliate” of the Investor within the meaning of the Securities Act or
the Securities Exchange Act of 1934, as amended (the “Exchange Act”) (each, an “Indemnified Person”),
against any losses, claims, damages, liabilities, judgments, fines, penalties, charges, costs, attorneys’ fees, amounts paid in
settlement or expenses, joint or several, (collectively, “Claims”) incurred in investigating, preparing or defending
any action, claim, suit, inquiry, proceeding, investigation or appeal taken from the foregoing by or before any court or governmental,
administrative or other regulatory agency, body or the SEC, whether pending or threatened, whether or not an Indemnified Person is or
may be a party thereto (“Indemnified Damages”), to which any of them may become subject insofar as such Claims (or
actions or proceedings, whether commenced or threatened, in respect thereof) arise out of or are based upon: (i) any untrue statement
or alleged untrue statement of a material fact in a Registration Statement, any Other Registration Statement or any post-effective amendment
thereto or in any filing made in connection with the qualification of the offering under the securities or other “blue sky”
laws of any jurisdiction in which Registrable Securities are offered (“Blue Sky Filing”), or the omission or alleged
omission to state a material fact required to be stated therein or necessary to make the statements therein not misleading, (ii) any
untrue statement or alleged untrue statement of a material fact contained in the final prospectus (as amended or supplemented, if the
Company files any amendment thereof or supplement thereto with the SEC) or the omission or alleged omission to state therein any material
fact necessary to make the statements made therein, in light of the circumstances under which the statements therein were made, not misleading,
(iii) any violation or alleged violation by the Company of the Securities Act, the Exchange Act, any other law, including, without limitation,
any state securities law, or any rule or regulation thereunder relating to the offer or sale of the Registrable Securities pursuant to
a Registration Statement or any Other Registration Statement or (iv) any material violation by the Company of this Agreement (the matters
in the foregoing clauses (i) through (iv) being, collectively, “Violations”). The Company shall reimburse each Indemnified
Person promptly as such expenses are incurred and are due and payable, for any reasonable legal fees or other reasonable expenses incurred
by them in connection with investigating or defending any such Claim. Notwithstanding anything to the contrary contained herein, the
indemnification agreement contained in this Section 6(a): (i) shall not apply to a Claim by an Indemnified Person arising out
of or based upon a Violation which occurs in reliance upon and in conformity with information about the Investor furnished in writing
to the Company by such Indemnified Person expressly for use in connection with the preparation of a Registration Statement, any Other
Registration Statement or any such amendment thereof or supplement thereto, if such prospectus was timely made available by the Company
pursuant to Section 3(c) or Section 3(e); (ii) with respect to any superseded prospectus, shall not inure to the benefit
of any such person from whom the person asserting any such Claim purchased the Registrable Securities that are the subject thereof (or
to the benefit of any person controlling such person) if the untrue statement or omission of material fact contained in the superseded
prospectus was corrected in the revised prospectus, as then amended or supplemented, if such revised prospectus was timely made available
by the Company pursuant to Section 3(c) or Section 3(e), and the Indemnified Person was promptly advised in writing not
to use the incorrect prospectus prior to the use giving rise to a violation and such Indemnified Person, notwithstanding such advice,
used it; (iii) shall not be available to the extent such Claim is based on a failure of the Investor to deliver or to cause to be delivered
the prospectus made available by the Company, if such prospectus was timely made available by the Company pursuant to Section 3(c)
or Section 3(e); and (iv) shall not apply to amounts paid in settlement of any Claim if such settlement is effected without
the prior written consent of the Company, which consent shall not be unreasonably withheld. Such indemnity shall remain in full force
and effect regardless of any investigation made by or on behalf of the Indemnified Person and shall survive the transfer of the Registrable
Securities by the Investor pursuant to Section 9.

 

 

 

 

    	 	6	 

     

    

 

b.              Promptly after
receipt by an Indemnified Person under this Section 6 of notice of the commencement of any action or proceeding (including any
governmental action or proceeding) involving a Claim, such Indemnified Person shall, if a Claim in respect thereof is to be made against
the Company under this Section 6, deliver to the Company a written notice of the commencement thereof, and the Company shall have
the right to participate in, and, to the extent the Company so desires, to assume control of the defense thereof with counsel mutually
satisfactory to the Company and to the Indemnified Person; provided, however, that an Indemnified Person shall have the right to retain
its own counsel with the fees and expenses to be paid by the Company, if, in the reasonable opinion of counsel retained by the Company,
the representation by such counsel of the Indemnified Person and the Company would be inappropriate due to actual or potential differing
interests between such Indemnified Person and any other party represented by such counsel in such proceeding. The Indemnified Person
shall cooperate fully with the Company in connection with any negotiation or defense of any such action or Claim by the Company and shall
furnish to the Company all information reasonably available to the Indemnified Person which relates to such action or Claim. The indemnifying
party shall keep the Indemnified Person fully apprised at all times as to the status of the defense or any settlement negotiations with
respect thereto. The Company shall not be liable for any settlement of any action, Claim or proceeding effectuated without its written
consent, provided, however, that the Company shall not unreasonably withhold, delay or condition its consent. The Company shall not,
without the consent of the Indemnified Person, consent to entry of any judgment or enter into any settlement or other compromise which
does not include as an unconditional term thereof the giving by the claimant or plaintiff to such Indemnified Person of a release from
all liability in respect to such Claim or litigation. Following indemnification as provided for hereunder, the Company shall be subrogated
to all rights of the Indemnified Person with respect to all third parties, firms or corporations relating to the matter for which indemnification
has been made. The failure to deliver written notice to the Company within a reasonable time of the commencement of any such action shall
not relieve the Company of any liability to the Indemnified Person under this Section 6, except to the extent that the Company
is prejudiced in its ability to defend such action.

 

c.              The indemnification required by this Section 6 shall be made by periodic payments of the amount thereof during the course
of the investigation or defense, as and when bills are received or Indemnified Damages are incurred.

 

d.              The indemnity
agreements contained herein shall be in addition to (i) any cause of action or similar right of the Indemnified Person against the Company
or others, and (ii) any liabilities the Company may be subject to pursuant to the law.

 

		7.	CONTRIBUTION.

 

To the extent
any indemnification by the Company is prohibited or limited by law, the Company agrees to make the maximum contribution with respect to
any amounts for which it would otherwise be liable under Section 6 to the fullest extent permitted by law; provided, however, that:
(i) no seller of Registrable Securities guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities
Act) shall be entitled to contribution from any seller of Registrable Securities who was not guilty of fraudulent misrepresentation; and
(ii) contribution by any seller of Registrable Securities shall be limited to the amount of proceeds received from the Registerable Securities.

 

		8.	REPORTS AND DISCLOSURE UNDER THE SECURITIES ACTS.

 

With a view to
making available to the Investor the benefits of Rule 144 promulgated under the Securities Act or any other similar rule or regulation
of the SEC that may at any time permit the Investor to sell securities of the Company to the public without registration (“Rule
144”), the Company agrees during the Commitment Period, at the Company’s sole expense, to:

 

a.             
make and keep “current public information” available, as such term is understood and defined in Rule 144;

 

b.              file with the
SEC in a timely manner all reports and other documents required of the Company under the Securities Act and the Exchange Act;

 

 

 

 

    	 	7	 

     

    

 

c.              furnish to
the Investor so long as the Investor owns Registrable Securities, promptly upon request, (i) a written statement by the Company that
it has complied with the reporting and or disclosure provisions of Rule 144, the Securities Act and the Exchange Act, (ii) a copy of
the most recent annual or quarterly report of the Company and such other reports and documents so filed by the Company, and (iii) such
other information as may be reasonably requested to permit the Investor to sell such securities pursuant to Rule 144 without registration;
and

 

d.              take such additional
action as is requested by the Investor to enable the Investor to sell the Registrable Securities pursuant to Rule 144, including, without
limitation, delivering all such legal opinions, consents, certificates, resolutions and instructions to the Company’s Transfer
Agent as may be requested from time to time by the Investor at the Company’s expense and otherwise fully cooperate with Investor
and Investor’s broker to effect such sale of securities pursuant to Rule 144.

 

The Company agrees
that damages may be an inadequate remedy for any breach of the terms and provisions of this Section 8 and that Investor shall,
whether or not it is pursuing any remedies at law, be entitled to equitable relief in the form of a preliminary or permanent injunctions,
without having to post any bond or other security, upon any breach or threatened breach of any such terms or provisions.

 

		9.	ASSIGNMENT OF REGISTRATION RIGHTS.

 

The Company shall
not assign this Agreement or any rights or obligations hereunder without the prior written consent of the Buyer, or any Investor as assignee
pursuant to this Section 9. The Buyer, or any Investor, may not assign its rights under this Agreement without the written consent
of the Company other than to an affiliate of such Investor.

 

		10.	AMENDMENT OF REGISTRATION RIGHTS.

 

No provision of
this Agreement may be (i) amended other than by a written instrument signed by both parties hereto or (ii) waived other than in a written
instrument signed by the party against whom enforcement of such waiver is sought. Failure of any party to exercise any right or remedy
under this Agreement or otherwise, or delay by a party in exercising such right or remedy, shall not operate as a waiver thereof.

 

		11.	MISCELLANEOUS.

 

a.              A Person is
deemed to be a holder of Registrable Securities whenever such Person owns or is deemed to own of record such Registrable Securities.
If the Company receives conflicting instructions, notices or elections from two or more Persons with respect to the same Registrable
Securities, the Company shall act upon the basis of instructions, notice or election received from the registered owner of such Registrable
Securities.

 

b.              Any notices,
consents, waivers or other communications required or permitted to be given under the terms of this Agreement must be in writing and
will be deemed to have been delivered: (i) upon receipt, when delivered personally; (ii) upon receipt, when sent by email (provided confirmation
of transmission is mechanically or electronically generated and kept on file by the sending party); or (iii) one (1) Business Day after
deposit with a nationally recognized overnight delivery service, in each case properly addressed to the party to receive the same. The
addresses for such communications shall be:

 

 

 

 

    	 	8	 

     

    

 

b.              Any notices,
consents, waivers or other communications required or permitted to be given under the terms of this Agreement must be in writing and
will be deemed to have been delivered: (i) upon receipt, when delivered personally; (ii) upon receipt, when sent by email (provided confirmation
of transmission is mechanically or electronically generated and kept on file by the sending party); or (iii) one (1) Business Day after
deposit with a nationally recognized overnight delivery service, in each case properly addressed to the party to receive the same. The
addresses for such communications shall be:

 

If to the Company:

 

King Resources, Inc.

Unit 1813, 18/F, Fo Tan Industrial Centre

26-28 Au Pui Wan Street

Fo Tan

Hong Kong

Email: william.fu@powertechcorp.com

Attention: Fu Wah, CEO

 

If to the Investor:

 

Williamsburg Venture Holdings, LLC

395 Leonard St, Suite 719

Brooklyn, NY 11211

E-mail: rg@williamsburg.ventures

Attention: Ronald Glenn, Managing Member

Phone: 347.263.3216

 

or at such other address and/or
email address and/or to the attention of such other person as the recipient party has specified by written notice given to each other
party three (3) business days prior to the effectiveness of such change. Written confirmation of receipt (A) given by the recipient of
such notice, consent, waiver or other communication, (B) mechanically or electronically generated by the sender’s email account
containing the time, date, recipient email address, as applicable, and an image of the first page of such transmission or (C) provided
by a nationally recognized overnight delivery service, shall be rebuttable evidence of personal service, receipt by email or receipt from
a nationally recognized overnight delivery service in accordance with clause (i), (ii) or (iii) above, respectively.

 

c.              All questions
concerning the construction, validity, enforcement and interpretation of this Agreement shall be governed by the internal laws of the
State of New York, without giving effect to any choice of law or conflict of law provision or rule (whether of the State of New York
or any other jurisdictions) that would cause the application of the laws of any jurisdictions other than the State of New York.

 

d.              Any disputes,
claims, or controversies hereunder or in connection herewith or with any transaction contemplated hereby or discussed herein shall be
referred to and resolved solely and exclusively by binding arbitration to be conducted before the Judicial Arbitration and Mediation
Service (“JAMS”), or its successor pursuant the expedited procedures set forth in the JAMS Comprehensive Arbitration
Rules and Procedures (the “Rules”), including Rules 16.1 and 16.2 of those Rules. The arbitration shall be held in
New York, New York, before a tribunal consisting of three (3) arbitrators each of whom will be selected in accordance with the "strike
and rank" methodology set forth in Rule 15. Either party to this Agreement may, without waiving any remedy under this Agreement,
seek from any federal or state court sitting in the State of New York any interim or provisional relief that is necessary to protect
the rights or property of that party, pending the establishment of the arbitral tribunal. The costs and expenses of such arbitration
shall be paid by and be the sole responsibility of the Company, including but not limited to the Holder’s attorneys’ fees
and each arbitrator’s fees. The arbitrators' decision must set forth a reasoned basis for any award of damages or finding of liability.
The arbitrators' decision and award will be made and delivered as soon as reasonably possibly and in any case within sixty (60) days'
following the conclusion of the arbitration hearing and shall be final and binding on the parties and may be entered by any court having
jurisdiction thereof.

 

e.              If any provision
of this Agreement shall be invalid or unenforceable in any jurisdiction, such invalidity or unenforceability shall not affect the validity
or enforceability of the remainder of this Agreement in that jurisdiction or the validity or enforceability of any provision of this
Agreement in any other jurisdiction.

 

 

 

 

    	 	9	 

     

    

 

f.              
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 HEREWITH OR ARISING OUT OF THIS AGREEMENT OR ANY TRANSACTION
CONTEMPLATED HEREBY.

 

g.             This Agreement
and the Purchase Agreement constitute the entire agreement among the parties hereto with respect to the subject matter hereof and thereof.
There are no restrictions, promises, warranties or undertakings, other than those set forth or referred to herein and therein. This Agreement
and the Purchase Agreement supersede all prior agreements and understandings among the parties hereto with respect to the subject matter
hereof and thereof.

 

h.              Subject to
the requirements of Section 9, this Agreement shall inure to the benefit of and be binding upon the successors and permitted assigns
of each of the parties hereto.

 

i.              
The headings in this Agreement are for convenience of reference only and shall not limit or otherwise affect the meaning hereof.

 

j.              
This Agreement may be executed in identical counterparts, each of which shall be deemed an original but all of which shall constitute
one and the same agreement. This Agreement, once executed by a party, may be delivered to the other party hereto by facsimile transmission
or by e-mail in a “.pdf” format data file of a copy of this Agreement bearing the signature of the party so delivering this
Agreement.

 

k.             
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.

 

l.               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.

 

m.             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.

 

* * * * * *

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    	 	10	 

     

    

 

IN WITNESS WHEREOF, the parties
have caused this Agreement to be duly executed as of the Execution Date.

 

	 	King Resources, Inc.
	 	 
	 	 
	 	By: /s/ Fu Wah                                             
	 	Name: Fu Wah
	 	Title: Chief Executive Officer
	 	 
	 	 
	 	 
	 	Williamsburg Venture Holdings, LLC
	 	 
	 	 
	 	By: /s/ Ronald
  Glenn                                             
	 	Name: Ronald Glenn
	 	Title: Managing Member
	 	 
	 	 

 

 

 

 

 

    	 	11	 

     

    

 

EXHIBIT A

TO REGISTRATION RIGHTS AGREEMENT

 

FORM OF NOTICE OF EFFECTIVENESS

OF REGISTRATION STATEMENT

 

June 2022

 

Pacific Stock Transfer Company

6725 Via Austi Pkwy, Suite 300

Las Vegas, Nevada 89119

 

Re: EFFECTIVENESS OF REGISTRATION STATEMENT

 

Ladies and Gentlemen:

 

We are counsel
to King Resources, Inc., a Delaware corporation (the “Company”), and have represented the Company in connection with
that certain Equity Purchase Agreement, dated as of June 21, 2022 (the “Purchase Agreement”), entered into by and between
the Company and Williamsburg Venture Holdings, LLC (the “Buyer”) pursuant to which the Company has agreed to issue
to the Buyer shares of the Company’s Common Stock, $0.001 par value (the “Common Stock”), in an amount up to
Twenty Million Dollars ($20,000,000.00) (the “Put Shares”), in accordance with the terms of the Purchase Agreement.
In connection with the transactions contemplated by the Purchase Agreement, the Company has registered with the U.S. Securities &
Exchange Commission the following shares of Common Stock:

 

		(1)	Put Shares to be issued to the Buyer upon purchase from the Company by the Buyer
from time to time in accordance with the Purchase Agreement; and

 

		(2)	525,000,000 Commitment Shares which were issued to the Buyer pursuant to the Purchase
Agreement.

 

Pursuant to
the Purchase Agreement, the Company also has entered into a Registration Rights Agreement, of even date with the Purchase Agreement with
the Buyer (the “Registration Rights Agreement”) pursuant to which the Company agreed, among other things, to register
the Put Shares and the Commitment Shares under the Securities Act of 1933, as amended (the “Securities Act”). In connection
with the Company’s obligations under the Purchase Agreement and the Registration Rights Agreement, on June 21, 2022, the Company
filed a Registration Statement (File No. 333-[ ]) (the “Registration Statement”) with the Securities and
Exchange Commission (the “SEC”) relating to the resale of the Put Shares and the Commitment Shares.

 

In
connection with the foregoing, we advise you that a member of the SEC’s staff has advised us by telephone that the SEC has entered
an order declaring the Registration Statement effective under the Securities Act at [ ] [A.M./P.M.] on [ ], 2022 and we
have no knowledge, after telephonic inquiry of a member of the SEC’s staff, that any stop order suspending its effectiveness has
been issued or that any proceedings for that purpose are pending before, or threatened by, the SEC and the Put Shares are available for
resale under the Securities Act pursuant to the Registration Statement and may be issued without any restrictive legend.

 

 

	 	Very truly yours, 
	 	[Company Counsel]
	 	 
	 	 
	 	By:                                            
	 	 
	 	 
	cc: Williamsburg Venture Holdings, LLC	 

 

 

 

 

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